The position in Direxion Financial Bull 3x was continued after expiring out-of-the-money in March. The new profit/loss projections are below:
3/18/2009 -- Bought 100 FAS @ 5.58
3/18/2009 -- Sold To Open 1 FAS March $6 Call @ .21
3/20/2009 -- March Option Expired
3/23/2009 -- Sold To Open 1 FAS April $6 Call @ 1.25
The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $557.50
Downside Coverage: 26%
Possible Max Upside: 35%
Annualized Max Upside: 210.1%
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