January 2011 Expiration
January Expiration’s commentary on Wins and Losses:
BIDU:
We used a special trick trade with BIDU. We made our money on the 85 puts while rolling over to the 90′s. We still have the same probability of making additional gain on the 90-75 spread and if the security remains at this level, we are in for even more gains.
CLF:
What an excellent option trade! We started out with a net credit of $2.11, however, since we are masters at this, we ended with over $3.00 in net gains. This was played just right, because we got out of the 90 calls right before they went down. We could have been even more profitable on that strike, but we got out too late.
OPEN:
OPEN was a relatively simple option trade, and it went exactly as planned. We were expecting to get out with a gain of only $0.80 on this entire trade, but our broker didn’t execute the tail end of the trade until we called it in. Turns out that there wasn’t any bid on the 95 call of the combo trade, so it didn’t trigger. We ended up with a greater gain of $1.20 as a result! Hey, we’ll take that any day!
That’s all the commentary for now, till next month’s expiration! This was an excellent month!
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