Fund C Update @ 14-Feb-09

Unrealized P&L of about +$162.
Net Asset = $24,185.
Cash On-hand = $22,187.

Net Asset increased from last week $23.1K to $24.2K.
1 more week to Expiry Friday 20-Feb.

Fund D Update @ 14-Feb-09

Unrealized P&L of about +$10,151.
Net Asset = $122,453.
Cash On-hand = $123,112.

Net Asset increased from last week $113.7K to $122.4K.

1 more week to Expiry Friday 20-Feb.

C share price fairly stable and above $3.00 most of the time. Volatility decayed to 135% and time decay kicked in very rapidly this week (and next week too) as it is last 2 weeks before option expiry Friday 20-Feb.

BAC share price swing up-and-down and dropped to $5.58.
We want BAC to stay above $6.00 so as to keep 100% profit. Breakeven point for the closest defense line option is at $4.75. Probability of winning for the BAC option chain is still high.