Wednesday, August 20, 2008

OPEN & ADJUST: FSLR Triple Calendar

On 8/7/08 I opened a "shotgun" or triple calendar as follows:
BOT +3 CALENDAR FSLR 100 DEC 08/SEP 08 250 PUT @ $19.30 debit
BOT +3 CALENDAR FSLR 100 DEC 08/SEP 08 270 PUT @ $20.80 debit
BOT +3 CALENDAR FSLR 100 DEC 08/SEP 08 290 PUT @ $20.30 debit

My total cost basis was $60.40. I have been watching this stock channel between 230 and 300 since April.

On 8/8/08 I adjusted by removing the following:
SOLD -3 CALENDAR FSLR 100 DEC 08/SEP 08 290 PUT @$17.90 credit

On 8/12/08 I adjusted by adding as follows to make a :
BOT +5 CALENDAR FSLR 100 DEC 08/SEP 08 230 PUT @17.00
Here's what my chart looked like before the adjustment:


Here's what it looked like after adding the 230 calendar:


Today on 8/20/08, I adjusted again as my analysis graph shifted again:
SOLD -5 CALENDAR FSLR 100 DEC 08/SEP 08 230 PUT @15.20
Here's what it looked like before the adjustment:


Here's when I sold the 230 calendar. After adjusting by removing the 230 put calendar (higher B/E on upside and lower delta and freed up more capital):


So now I am in the double calendar at 250 & 270.

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