Monday, January 28, 2008

Status of existing trades

Feb RUT IC 860C/850C/690P/680P originally sold for 2.35
RUT has finally gone above lower leg and closed at 702.4
To close the IC would cost 3.20, a loss of 0.85
I have a buy order on it for 1.50, think I’ll wait a little longer before revising that upward.

Feb PLCE 17.5/20 Vertical Call Spread originally sold for 0.35
PLCE is at 17.54 but there does seem to be resistance at 17.5
The stocks fundamentals are not good and it is not in a good industry (retail apparel).
I will wait a while longer on this one also.

Mar IWM 68 Straddle
Bought 68 Call @ 3.82, currently @ 4.55, have a sell order @ 4.70
Bought 68 Put @ 3.08 currently @ 2.46, have a sell order @ 4.00
I’d thought about raising the sell order on the call. But in the past when I’ve done that, the stock has stopped short of the new sell price and I lost more profit than I gained. So I will let the sell order stand as is. Then I still have time for the Put to make a profit.

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