As I mentioned in my previous post for this position, I was considering selling a longer-term call against it as I would not be able to get enough premium if i sold a current month option. As such, I decided to sell an April $12 option on one of my 3 UNG positions. I only sold it on one of them, because I still think that UNG could move higher, but I want to hedge at least one of my positions. The new profit/loss info is below:
7/2/2009 -- Sold To Open 1 UNG August $13 Put @ 1.15
8/21/2009 -- Stock Purchase @ $13
8/24/2009 -- Sold To Open 1 UNG October $13 Call @ 0.60
9/2/2009 -- Bought To Open 1 UNG October $8 Put @ .4275
10/16/2009 -- Option Expiration
10/20/2009 -- Sold To Open 1 UNG November $12 Call @ .45
11/6/2009 -- Bought To Open 1 UNG December $9 Put @ 0.41
11/18/2009 -- Sold To Close 1 UNG December $9 Put @ 0.5025
11/23/2009 -- Sold To Open 1 UNG April $12 Call @ 0.38
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Purchase Price: $1190.00
Current Cost Average: $10.805
Commissions (Included In Cost): $40
Possible Max Upside: 6.85%
Annualized Max Upside: 17.60%
No comments:
Post a Comment