1/18/08
sold -1 SPY 140/144 CALL vertical @0.86
margin = 3.14
Prob of Success = 78%
Idea behind this trade was to pump some negative deltas into my overall SPY postion. Had to shed off the PUT side of my FEB condor at a pre-determined loss, resulting in a 20% overall loss on that condor! Will hope to get back to break even by FEB expiration with the remaining SPY trades being closed at their profit points.
This vertical will require little monitoring, but will close if the loss is equal to the credit I can recieve (.86) or if I like the overall delta postion of my FEB SPY inventories I may keep them on. This is a trading plan with my personal judgement making the final decision.
1/31/08
btc for 1.36
originally sold for 0.86
total loss .50 or 16% loss
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