Monthly Archives: October 2011

Closed everything.

SPY @ 129.
SH @ 40.09.

SPY: $31,115.00 (closed)
hedge: -$3,281 (closed)

$27,834.00 (SPY gain + current hedge loss)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend to be paid on 10/31)
$5,221.55 (realized)
————————
$41,902.49 (total for trade)

All positions closed.

Hedges and money management. Around $9k of the gain in this trade was from hedging. Had price not gone against me, my end result would’ve been less.

I was set to buy more if SPY got down to $105 which would further lower my average cost, but part of the reason I sold today was that is a long way away and if price decides to go back and forth between 120 and 112 again without making it down to my next buy point or going up to a net profit area, I don’t want to sit around waiting. So I saw a good opportunity today to exit and I did.

Gap up! Good thing I didn’t sell those covered calls. lol.

Stop order to close entire SPY position at $127.50.

Current price $128. Normally I don’t use stop order but this huge gap has me perplexed.

edit – 1:15pm: Stop moved to 128.

edit – 2:25pm: Stop moved to $128.50

I may be selling some covered calls soon.

Or I may just close the whole thing out. I’m nowhere near my profit target but I’m not so happy with how I spaced out the buys on this trade and I don’t like that SPY has to drop to 105 again before I’m going to buy anymore. That’s like 20 points of play, although I don’t mind sitting through drawdown (obviously, if you’ve been paying attention to this thread).

ITM covered calls may be a good way to force the position to close. Of course if I do that price will go straight up

10/24:

SPY $11,115.00
hedge -$2,482.00

Net for this trade:

$8,633.00 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
————————
$22,701.49

10/21:

SPY $2,451.00
hedge -$2,119.00

Net for this trade:

$332.00 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
————————
$14,400.49

10/19;

SPY -$13,737.00
hedge -$1,472.20

Net for this trade:

-$15,209.20 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
————————
-$1,140.71

SPY -$5,529.00
hedge -$1,762.60

Net for this trade

-$7,291.60 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
————————
$6,776.89

In the positive.

10/10:

SPY -$22,572.00
hedge -$1,049.80

Net for this trade:

-$23,621.80 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
————————
-$9,553.31

Bought 660 shares of SH at 45.04.

The hedge is back open.

10/6:

SPY -$40,185.00

hedge -$284.20

Net for this trade:

-$40,469.20 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
————————
-$26,400.71

Sold entire position (1173 shares) of SH @ $45.90.

Profit: $5,221.55.

As of now the only thing that is open is my SPY position.

Watch price tank now that I’ve closed out my short position. lol.

There was no real reason I sold it now other than I was happy with locking in $5,000 of profit right now. I have no idea if price is going to go up or down in the future. If it goes up, awesome. If it goes down then whoops I should’ve held onto the SH longer. I may buy more if SPY goes up.

10/5:

SPY -$51,984.00
hedge closed

Net for this trade:

-$51,984.00 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
————————
-$37,915.51