Wednesday, February 27, 2008

CLOSE: SWIM Short Straddle +24.8%

On 2/21/08, I sold the Mar 12.5 Call & Put for a total credit of $2.37.

Today, volatility has finally been squeezed out and is starting to slightly uptrend, so I closed the trade for a debit of $1.13.

$2.37-1.13 profit/5.00 risk (credit plus margin)= 24.8% in 6 days!