Results for Week Ending July 8, 2011

Ok, here are the results for the just completed week ending July 8, 2011:

Spreads

SPX    1335-1340 Put       .6%
NDX   2350-2325 Put    7.2%

Iron Condor

SPX   1360-1365 Call
           1305-1315 Put    6.1%


The SPX 1335-1340 Put Spread was a last minute trade done in the last 10 minutes of the day with some of my reserve to grab a little extra cash.  For the week we ended up with a 4.39% margin net of commissions.

We still have the VVUS Covered call going on with a week to go.  Currently we will be called away, but that is ok.  By using our strategy of PRICE APPRECIATION + OPTION PREMIUM  we will realize a 5.75% return for the month the covered call will probably be in place.  That equates to a 60+% annualized return without compounding!!!  If we are called away we will look for another covered call to write.  If by chance the market price falls below the strike and we are not called away we will sell more options on our 300 shares of VVUS.

Any questions can be left as a comment below or directed to hashleycm@yahoo.com .

TTFN

Ash