Bought to close:VERTICAL DIA; APR 08 129/130 CALL @.02

I hadn’t even checked the markets today when I got a message on my way to lunch that a trade had been closed out…

This was an automatically triggered buy back for a trade listed in an earlier post. The original sale was for 25 cents ($0.25). It was bought back for 2 cents, so the profit for this is 23 cents (multiplied by 100…more than once). TOS doesn’t charge commissions when closing a trade for less than 5 cents (yeah TOS!), so this was a commission free close.

Getting all but 2 cents and freeing up capital a week before expiration all without commissions…not too bad.

SOLD VERTICAL DIA – APR 08 129/130 CALL @.25

The subject trade filled, with a 75% probability of success and a 25% reward potential.  A littles less return for the risk than I’d like.  However, since I didn’t get the slightly better fills on yesterday’s slight upward movement I suppose I’m OK with hitting par on a slight downward move (given that I’m selling calls).

The graph below is what I’ve been looking at, which could be a nice roll on reasonable support; 50% of a short term channel, based on a 10 year trend.  It’s also worth noting that the RSI for DIA is at about 55, which is approximately where it’s been rolling for the 5-6 months.  It’s been bouncing between 52-55 and 25-30.

Unfortunately this didn’t fill: SELL VERTICAL SPY  – APR 08 140/141 CALL @.26.

Looking for SPY and IWM or RUT trades tomorrow…

SPY & MNX – SELL VERTICAL APR 08 CALL

I put these 2 on around 10am with about 10 cents of additional credit at that time. They both moved pretty close but didn’t fill and I wasn’t willing to adjust. Both trades had approx. 75% prob. of success and 30-35% return potential.

SELL VERTICAL SPY APR 08 141/142 CALL @.30
The mark for this made it to around .27.

SELL VERTICAL MNX APR 08 190/192.5 CALL @.75
The mark for this made it to around .70.

SOLD VERTICAL MNX APR 08 187.5/190 CALL @.85

This trade was made on Feb 20th. At the time it looked like we were ready to roll and fortunately we did. I was hoping to take advantage of the bottom of my range, but we popped up earlier than I expected (3/11) so unless we test lows again (plenty of time left) I’m probably not doing anything else here for a bit.