Update Transaction - Direxion Financial Bull 3x (FAS)

Today I rolled-out one of my positions in FAS, which has traded in a range between about $9 and $10.50 for the past couple weeks. I decided to do this a little early because I am not sure where FAS will be on friday, and I wanted to capture some premium if the the stock lost further value, so I could buy the July call back.

The new profit/loss projections are below:

4/17/2009 -- Bought 100 FAS @ 9.745
4/17/2009 -- Sold To Open 1 FAS May $8 Call @ 2.65

5/7/2009 – Bought To Close 1 FAS May $8 Call @ 3.55

5/7/2009 – Sold To Open 1 FAS May $10 Call @ 1.95

5/15/2009 – May $9 Call Expired

5/18/2009 – Sold To Open 1 FAS June $11 Call @ 0.95
6/15/2009 -- Bought To Close 1 FAS June $11 Call @ 0.25
6/15/2009 -- Sold To Open 1 FAS July $11 Call @ 0.90


The important purchase metrics are below for insight into possible profit and loss (these all include commissions):
Stock Purchase Cost: $974.50


Downside Coverage From Current Price: 29.5%
Possible Max Upside: 55.04%

Annualized Max Upside: 218.36%