Apr Monthly Results +8.6%

5 Wins 4 Losses

This month I was able to negotiate a better commission rate on my options so the difference was credited to my account. This helped cushion me from USO & SHLD this month.

Because of my 2 week vacation, I did not place any new trades this month.

VACATION!

I will be travelling to ITALY for the next 2 weeks so I have closed out all of my trades and am "all cash" in my portfolio.

I did not have time to calculate all my closes for April, but will do so once I get back.

In the meantime, trade safely....these times are volatile in the markets so if your in high volatility trades now, you may want to consider tightening stops, or pulling out from your trades all together for a week or 2 until the market levels a little more (after that huge bullish spike on the DOW this week).

Happy trading!

Arrivederci!

CLOSE: SHLD Put Diag to Put Cal. -44.2%

On 3/13, I opened this put diagonal:
I Sold Apr 85 put for $3.00
Bought Jun 105 put for $19.55 for a net debit of $ 16.55.
My cost basis was 16.55.

On 3/20, I adjusted my short position by rolling my Apr 85 to 90 put for a credit of $0.82.
Then I rolled up my short leg again from the Apr 90 to 95 put for another credit of $1.17.
Then I rolled down my long leg from the Jun 105 to 95 put to make this a calendar instead of a diagonal for a credit of $5.10.
Adj. cost basis was 16.55-0.82-1.17-5.10= $9.46.

On 3/31, I adjusted my position to lower my cost basis by rolling the April to May:
SOLD MAY 08/APR 08 95 PUT @ $3.37 credit
9.46-3.37= $6.09 adjusted cost basis

Today I closed out of the trade completely:
SOLD JUN 08/MAY 08 95 PUT @ $3.40 credit
6.09-3.40= $2.69 debit (loss)

2.69/6.09= 44.2% loss

This was a nasty trade for sure!

CLOSE: UPS Triple Call Calendar -0.6%

On 3/13, I opened the trade as seen below:
Bought Jul 65 Call -$8.00
Bought Jul 70 Call -$4.60
Bought Jul 75 Call -$2.10 debit of $14.70
Sold Apr 65 Call +$6.50
Sold Apr 70 Call +$2.70
Sold Apr 75 Call +$0.52 credit of $9.72
Total debit (cost basis) of $4.98

On 3/31, I exited out of the Apr/Jun 65 & 70 calls. My exit order for the 75 did not get filled yet.
SOLD -40 DBL DIAG UPS 100 JUL 08/APR 08 65/70/65/70 CALL @2.95.
4.98-2.95= 2.03 adj. cost basis

4/1, today, I completely exited the trade as seen below:
SOLD JUL 08/APR 08 75 CALL @2.00 credit
2.03-2.00= 0.03 loss/4.98

0.6% loss in 2 weeks

I had to exit early because of my trip-if not, I would have stayed in to profit.