Monday, December 3, 2007

DIA Jan 08 Condor (+7%)



12/3/07
placed short options at approx. 7 deltas 117 and 144, per dan sheriden's guidlines. Then observed the 20 delta strikes at: 125 puts and 141 on the calls. At these points will need to take off half of the trade.
87.5% prob

12/10/07
Had placed a stop limit GTC order in on DIA and was filled on the PUT 117/113 side this morninig for .08 debit
Initialy sold it for .24 credit
total credit from PUT side .16

Still holding the CALL side 144/148 for .26 credit
Have a Stop .60 Limit .15 GTC order in.
current quote at .49
down .23
credit from put side .16
overall position at negative .7

12/11/07
bot +2 Call verticle 144/148 @.15 (mark 136.02)
initially sold it for .26
total credit from CALL side .11

total credit from condor .27 on 3.73 of risk = 7% ROR (8 days in the trade)

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