Thursday, January 3, 2008
FEB/MAR nyx double calendar (+38%)
1/3/08
bot +1 dbl calendar NYX FEB/MAR08
90 FEB/MAR Call calendar
80 FEB/MAR PUT calendar
debit 2.55 (mark 83.85)
Plan to take off trade b/f earnings in Feb 1-5 date not yet confirmed.
If underlying stays relatively in the same spot will yield approx. 50%
1/07/08
NYX dropped down btwn my short put and FEB expiration b/e point. Made the following adjustments:
STC -1 the 90 FEB/MAR Call calendar @.89
originally bot for 1.30
total loss debit for 90 feb/mar call calendar = .41
rolled the call callendar down to closer ATM:
bot +1 FEB/MAR 75 call calendar @1.31 (mark 77.63)
leaving a double calendar at 75 CALL and 80 PUT
current debit for trade (including roll debit) = 2.97
(see left picture for current P&L graph for position)
Placed a STOP order in @1.85 (approx 40% loss) plan to close b/f this is hit if market keeps falling. Will want to see NYX settle into some sort of range, ideally in the 20% range I have calendared btwn. 70 and 85
1/31/08
sold -1 dbl calendar to close out the trade before earnings tomorrow:
sold for 4.11
debit on trade is 2.97
Total profit is 1.14 or 38% roi
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