Account Activity
Date Action Qty Symbol/Description Price Net Amount
04/15/2010 Buy To Close 7 SPY Apr10 120 Call $1.21 ($857.58)
04/15/2010 Sell To Open 7 SPY May10 121 Call $2.13 $1,480.39
04/12/2010 Sell To Open 7 SPY Apr10 120 Call $0.77 $523.96
04/12/2010 Buy To Close 9 SPY Apr10 114 Call $6.05 ($5,460.05)
04/12/2010 Sell To Close 1 SPY Dec12 80 Call $41.94 $4,178.97
03/09/2010 Sell To Open 9 SPY Apr10 114 Call $2.18 $1,946.92
03/09/2010 Buy To Open 10 SPY Dec12 80 Call $36.30 ($36,315.11)
net investment = sum (bto long calls minus stc long calls plus btc itm short calls)
= (36315 - 4179 + 5460 + 858) = 38454
with 9 leap contracts remaining adjusted cost basis is 38454/900 = 42.73
current value of leap is 43.11
net income = sum of all short call premiums received
= 1947 + 524 + 1480 = 3951
percent return = 3951/38454 = 10.27% (38 days in trade - annualized = 98.7%)
spy last 38 days up 5.94% (59.4% annualized)
if one had buy and hold strategy and entered on 3/9/2010 at 114.5 and 1000 shares would have at risk 114,500 dollars. using dls = 10 contracts at risk was 36,315
(114,500 - 36315 = 78,185 cash set aside in fixed income NOT leveraged)
use this cash to roll out leaps when current leap has about 12 months to expiration and also add more leaps during market corrections
drjoe
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