+100 shares @ 25.27
+1 long JAN09 25 put @ 3.95
-2 vertical DEC08 30/35 calls @.82 (2) credit
11/19 NYX mark 21.07
NYX along with the market is taking a bath, making dramatic lows:
I rolled the -2 vertical DEC 30/35 calls down collecting .58 (2) = +$116
initiated new -2 vertical DEC 25/30 calls for .82
11/20 mark 18.67
stc -1 Jan09 25 put @8.05 for a gain of 4.10
bto +1 JAN09 20 put @4.55
11/21 mark 17.08
btc +2 verticl DEC 25/30 for .31 for a gain of .51 (2) = 1.02
sto -2 verticl DEC 17.50/20 for .94
Nov expiration status
stock has accumulated massive losses of -$820
gains on DEC and JAN short delta hedge postions = +$628
postion as of NOV is down $192
currently holding 100 shares at 25.27
-2 short DEC call verticals 17.5/20 for .94
+1 long JAN 20 put for 4.55 debit
given the proactive rolling and hedging I have avoided $800+ in losses and mitigated it to only $200, below is a P/L graph for DEC expiration.
12/10
sold the Jan 20 put to capture the remaining premium as NYX is making a move upward. pulled out 1.13 of credit = -3.42 loss
gain total is 2.86 for hedge postions with -2 vertical dec 17.5/20 calls currently at max loss of 3.12 for 2 contracts.
12/15 mark 26.54
With NYX up above my original cost I am profitable in the trade. I will initiate the sling shot again for Jan expration in the next day or so.
As of 12/30 NYX mark $24.90
my hedging has been profitable by 5.17 (including the debit from the (+1) 22.5 JAN put @ an 0.88 debit current mark .74)
my original cost basis for the 100 shares is 25.27
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