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Friday’s Activity: BUY: 5 CF JAN9 35/40 @ 3.5 BUY: 8 MRO APR 15/17.5 @ 1.85 BUY: 10 XLE JAN10 65/70 @ .98 GTC SELL: 10 XLE DEC 65/70 @ .8 (unfilled) ROLLOUT: SELL: 10 USO JAN9 70/75 @ .95 BUY: 10 USO JAN10 70/75 @ 1.35 ROLLOUT: SELL: 5 TRA DEC 25/30 @ 1.15 BUY: 5...

Since the last post: 10/6/08 MONDAY BUY: 10 AUY JAN10 5/7.5 @ 1.85 ROLLOUT: SELL: 8 TDW OCT 45/50 BUY: 8 TDW APR 45/50 COST 4.15 HIS –1707 REF: GLD 84.28, SLV 10.75, UNG 30.99, USO 71.6, DOW 9955, S&P 1056, 88, 146. ***** 10/7/08 TUESDAY ROLLOUT: SELL: 4 AEM NOV...

This week’s activity: Journal references: Monday: GLD 89.57 +2.93, SLV 12.95, UNG 31.8, USO 77.09 – 9.12, DOW 10365 –778, S&P 1106 –106. 130 – 125. Tuesday: GLD 85.07, USO 82.0, DOW 10850, S&P 1164, 128-131. Thursday: BUY: 5 AGU JAN09 30/35 @ 3.2 BUY: 5 CF MAY 55/60...

increasenow - nope. Not me.

This entry is only a reference for the journal. No trades this week in any account. Only activity was just observing the market and its affect on spreads. Monday: GLD 89.2, SLV 13.35, UNG 35.51, USO 87.62, DOW 11015, S&P 1207, 164 Tuesday: GLD 88.32, SLV 13.18, UNG 36.45, USO 86.13, DOW...

Some advisors are advocating using the $700 billion Fed money to finance lending institution's equity loans and business loans rather than use it to buy bad mortgages. Makes sense to me.

Ref: Monday GLD 77.56, SLV 10.95, UNG 34, USO 76.3, DOW 10917 –504, S&P 1193 –59 REF: Tuesday 113-128 REF: Wednesday GLD 85.2 +8.44, SLV 11.9 +1.48, UNG 36.3 +2.78, USO 77.78 +2.8 DOW 10607 –452, S&P 1156 -57, 132-139 REF: Thursday GLD 82.9, SLV 11.75, UNG 35.12, USO...

Thanks newguy. Aside from Monday (a day of weeping and screaming), this has been a good week for me so far. I'll post an update after Friday's close.

9/9/08 Activity: Another rollout: SOLD 4 ECA OCT 60/65 @ 2.64 BUY 4 ECA APR 60/65 @ 2.5 Original cost of OCT spreads 4.0 Present position cost 3.86, history –555 Journal reference: GLD 76.5, UNG 34.28, SLV 11.15, USO 81.5 ***** Today’s Activity: Beginning around...

Today’s Activity: ROLL OUT AND DOWN: SOLD: 4 EOG OCT 85/90 @ 3.05 BUY: 4 EOG APR 80/85 @ 2.95 (COST of new position = 3.8, history –371.2 ROLL UP AND OUT: SOLD: 12 GG OCT 27.5/32.5 @ 1.75 BUY: 12 GG JAN10 30/35 @ 1.65 (COST of new position = 3.9, history...

9/3/08 Activity: First use of the “Proposition” posted a couple of days ago. SOLD: 4 DO SEPT 95/100 @ 3.75 BUY: 4 DO MAR 95/100 @ 2.75 Original cost of spread 3.5, present cost 3.5 – 3.75 + 2.75 = 2.5 History + 68.8 9/4/08 I will quell for the moment the...

The topic of getting good fills is interesting. Trying to get good fills by legging in is really tough and will not work for a sizable account. It is risky and you never know how the fills will work out. By bidding on the whole spread you know exactly where you stand. The InteractiveBrokers...

Yes. the expected gross profit is (5.0-3.45) * 500 shares = 775. You are also correct about limited loss/limited gain. Max loss is 5 spreads X 345 cost per spread = 1725. If the stock is 80.01 or more, I make max profit. Gain = 775/1725 = 44.9%. Thanks for your interest.

Yes, you are correct. Should be 5 FCX FEB09 55/60 @ 3.85. Thanks.

9/2/08 Activity: BUY: 100 SLV @ 12.60 (long) BUY: 5 DVN APR 75/80 @ 3.45 Stock @ 95.90, comm. 7, expected gross profit = 775 BUY: 5 FCX APR 55/60 @ 3.85 Stock @ 83.03, comm. 7, expected gross profit = 575 BUY: 5 EOG APR 65/70 @ 3.85 Stock @ 96.41, comm. 7...

PROPOSITION: There is no reason to (permanently) lose money on a DITM vertical spread position that is no longer DITM due to declining stock price, under the following conditions: CONDITION 1: There is sufficient time value remaining in the spread. CONDITION 2: There is the expectation...

8/25/08 Activity: SOLD: 4 MLM OCT 750 @ 4.9 NET PROFIT 348.8 SOLD: 5 EGH JAN 110/115 @ 3.15 NET LOSS 309.9 (on low expectations for EEM) BUY: 100 SLV (long) @ 13.22 SOLD: 10 WFT 32.5/35 @ 1.58 NET LOSS 134 (stock @ 38.06, near breakeven, got better uses for the...

Friday’s Activity: My previous post showed a sale of 6 SU SEP 35/37.5, but I did not have the information at hand to calculate profit. This was originally 3 SU SEPT 70/75 that split 2 for 1. My cost was $4 for the spread, so the split spreads cost $2.0 each and sold for 2.45. Gross...

8/19/08 Activities: SOLD: 5 FWLT JAN 50/52.5 @ .85 NET LOSS 614 SOLD: 5 MDR NOV 40/45 @ .87 NET LOSS 1454 (the severity of this particular loss was unique to this stock’s price action. Kind of unforeseeable.) BUY 200 SLV (long) @ 13.08 *****...

Aug 18 Activity: Finally did some trades today, and was forced to take some losses. Tough market! SOLD: 5 SII OCT 60/65 @ 3.45 NET LOSS 289 BUY: 4 ECA APR 50/55 @ 3.6 EXPECTED GROSS PROFIT 560 SOLD: 8 VIP OCT 20/22.5 @ 1.65 NET LOSS 147 SOLD: 5 X...