Thursday, December 11, 2008

Fund Update

Just realized MS will announce earnings next Wed 17-Dec, two days prior to expiry Fri 19-Dec.
MS price at $13.92 still very far 46% away from Strike price $7.50.
As we do not trade through earnings due to unpredictable market response, decided to close out all MS positions.
Proceeded BTC 10x contracts at $0.10.
BTC 10x MS-Dec-7.50-PUT keep profit $986.

C price at $7.83 about 36% from Strike price $5.00.
Decided to close out to lock in profit. BTC 50x contracts at $0.05.
BTC 50x C-Dec-5.00-PUT keep profit $2,052.

Net Fund Value = $95,826 and cash on-hand $95,841.

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