Options portfolio

Placed opening orders today:

+15 MRH APR 08 17.5 CALL 1.8
-15 MRH APR 08 17.5 PUT 1.3

Looking forward to JAKK tomorrow, had placed a large position that I was monitoring because of risk, looks like afte hours JAKK took 5% dive. I don't see news but we'll see in next 9 trading sessions whether it has tired its legs. Am profitable on trade currently-

NYCDT

 

Nice JAKK call move in my direction.

 

What is your entry criteria for entering a naked put / covered call position?

Cheers

 

Noone that trades options would state your trades this way. You have to say:

1) where is the underlying when you made these trades.

2) At the very least what is the delta, gamma, theta and vega of each of the options when you initiated the trade.

3) Optional, but useful, what is the theoretical edge of your position when you put it on.

If all you are doing is keeping a record for some reason for your own sake on ET, that is different, but still worthless to anyone but yourself.

nitro

 

Speaking from experience, funny how when you are paper trading it seems so easy to sell lots of naked puts and calls to reap the benefits like the pros. Then when you start using real $$ and see a huge chunk of your portfolio tanking because you sold naked options on a stock like TASR when it was a mover and you get reamed both ways it doesn't seem like such a good strategy anymore.

 

MTM for week ending 10/12/7





BXG
-10 BXG 100 OCT 07 7.5 PUT $375
-25 BXG 100 FEB 08 10 PUT ($1637.50)
======================== -1262.50

CCRT
+10 CCRT 100 JAN 10 20 CALL $2250
======================= +2250

CROX
-6 CROX 100 OCT 07 55 PUT $465
-6 CROX 100 OCT 07 70 CALL +540
========================== +1005

GRMN
-5 GRMN OCT 07 105 PUT +412.50
-5 GRMN OCT 07 125 CALL +637.50
========================== +1050

JAKK
-50 JAKK OCT 07 30 CALL +1350
========================== +1350


LVS
-7 LVS 100 OCT 110 PUT $+437.50
-7 LVS 100 OCT 165 CALL $+819.50
========================== +1256.50

NYX
-6 NYX OCT 07 80 Call (-465)
+6 NYX JAN 10 80 Call +765
-6 NYX Jan 10 80 Put +660
========================= +960

MRH
+15 MRH APR 08 17.50 Call -187.50
-15 MRH APR 08 17.50 Put +0.0
========================== -187.50

NYX
-6 NYX OCT 07 80 Call -1,110
+6 NYX JAN 10 80 Call +1410
-6 NYX JAN 10 80 Put +1125
==========================+1425

TGIC
+10 TGIC APR 08 15 CALL $650
+15 TGIC APR 8 25 CALL $(-1200)
-25 TGIC APR 8 25 PUT (-1875.)
========================= (-2425)

XL
-3 XL Oct 75 Call -615
+3 XL JAN 10 60 Call +1515
========================= +900


OPEN PnL 5361.50
Closed PnL 12,259.50
Total PnL +17621

Thanks,
NYCDT

 

Naysayers eat your hearts out!



Well, today is a good example of what a 20% decline of the underlying does to a heavy long synthetic position. Got out before more carnage from TGIC

Two trades today:

-5 TGIC APR 08 15 CALL $3.67
-5 TGIC APR 08 25 CALL $0.77

I do this at work and couldn't put in the other order for a long put to get me out of the apirl 8 25 puts. World of hurt.

Oh boy... let it begin.

NYCDT