On 5/6/08 I opened the trade & ended up getting filled as follows:
May/Jun 50 puts for $0.19 debit
May/Jun 55 puts for $0.61 debit
May/Jun 60 calls for $0.38 debit
Total cost basis= $1.18
Now the big mistake I made on this trade was missing my exit yesterday afternoon before earnings today. Due to work, I had my exit order placed but it did not get filled in time before market close, so had it gotten filled my profit would have been double of what it was today.
Today, I exited and got lucky by the market gods! This morning my profit was down to +$425 but by the last 5 minutes of the market hours, I exited with a profit of $2,040!
SOLD JUN 08/MAY 08 50 PUT @ $0.10 credit
SOLD JUN 08/MAY 08 60/55/60/55 CALL/PUT/CALL/PUT @ $1.20 credit
Total exit credit= $1.30
(1.30-1.18)/1.18= +10.2%
WHEW is all I have to say! The next time I do this, I need to be on top of my exit order until it gets filled BEFORE EARNINGS!
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