Friday, September 24, 2010

Current positions

I have not had much time to post but I do have a few positions on right now at work:

1) Long 5 NOVY HO @ 2.15 with 5 short calls at 2.12 sold for 0.09-->basis is 2.06. I also added as further downside protection I bought the NOVY 2.06/1.99 put spread for 0.0210. This leaves me with 15cts of downside protection and a max profit of 4 cts or a total of $8,400. My risk doesn't start until below 1.99 on this one.

2) I am long the Mar/Mar RBOB/HO spread at 18.7 under (meaning RBOB is 18.07 cts under HO). I ran some charts and this is historically a good spot to be long this spread. I will be looking for this to head closer to zero and possibly positive by end of Dec beg of Jan. I am long 7 of thes spreads. I have a stop placed at 22.5 under which puts my total risk at $0.0443 or $13,024. I am looking for about a 18 ct move toward zero for a gain of about $52,920.

1/3.8 risk/reward.

No comments:

Post a Comment