We last posted changes to the Sample 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
- Cdone 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.
Our remianing open trades from the 4/21 update were:
- 200GE at $11.28, selling June $10puts and calls for $2.95, net $8.33/9.17
- GEnow $13.68 and the June $10s are $3.95, net $9.73($280 profit on $1,666 = 16.8%)
- As we are scaling in, we will buy more in June and roll up the callers so no change now
- GEnow $13.68 and the June $10s are $3.95, net $9.73($280 profit on $1,666 = 16.8%)
- 300PGF at $10.23, selling May$10puts and callsfor $1.25, net $8.98/9.49
- PGF is now $13.08 and the May $10s are $3.10,don’t forget, this one is a dividend play.
- ($300 profit on $2,694 = 11.1%)
- Rolling to May $10s to June $10s calls at $2.10 and June $13 puts at .80, this is in lieu of scaling in at this point so happy if put to us as my…
- Rolling to May $10s to June $10s calls at $2.10 and June $13 puts at .80, this is in lieu of scaling in at this point so happy if put to us as my…
