5.9 C
New York
Saturday, February 24, 2024

$100K Virtual Portfolio Update

We last posted changes to the Sample Virtual Portfolio last Tuesday night and our goal was to get most of our positions to cash.  We were fortunate enough to catch a wave up so the cash outs were easy.  On Friday, we put more money to work with my post "Stress-Free Investing In Stress-Tested Banks" and today's dip gave us the entries that we missed on Friday so it's a good time to review our new configuation and see what else we can spend our money on.

We cashed out of the following positions

  • Sold 2 FAS $7.50 puts for .45 naked
    • FAS closed at $9.40 so 100% profit of $90
  • 500 C at $3.04, selling May $3 puts and calls for $1.11, net $1.93/2.47
    • C done at  $3.60 less .15 for the puts = net $3.45 so 78% profit of $760
  • 4/21 Sold 2 IYF May $34 puts for $2.10 naked
  • Sold 2 add'l IYF May $36 puts for $2.00 naked
    • May $34 puts closed at .10 = 95% profit of $400
    • May $36 puts closed at .40 = 80% proift of $320
  • Sold 2 JPM May $29 puts for $1.95 naked
    • May $29 puts closed at .20 =  90% profit of $350
  • Sold 2 JPM $28 puts for $2 naked
    • May $28 puts closed at .10 = 95% profit if $360
  • Sold 10 FAS May $6 puts at $1.20
  • Sold 7 FAZ May $10 puts for $2.40 naked (adjusted to reflect Monday’s gap down open)
    • Stopped out on 4/21 at $1.60 = 33.3% profit of $560
  • Sold 10 URE June $3 puts for .70 naked
  • Stopped out at .30 = 43% profit of $400
  • Sold 10 FAS May $6 puts at $1.20
  • May $6 puts stopped out at .10 = 91% proift of $1,100

So the first set we closed out netted a profit of $4,340, not bad for our first month.

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