Friday, October 15, 2010

Current and New Positions

So I apolagize ahead of time for not being able to post in a timely matter about my positions, by my work is my priority and I post as I have time.

First lets list my current positions:

1) Short 5 CL DEC 80/82.50 call spreads (left over from iron condor)

2) Long 5 HO NOV 2.06/1.99 put spreads (mostly worthless)

3) Short 5 HO NOV 2.12 calls left over from covered call

4) Short 5 HO NOV 2.27 puts to cover futures for short call above

5) Long 2.27 HO covered call

6) Short 1 RB 2.16 straddle

7) Long 10 Mar/Mar RB/HO spreads

8) Long 5 Nov/Nov HO/RB spreads

So lets talk about the positions now. I am still short the 80/82.5 call spreads left over from the iron condor that I sold as I bought pack the put spreads at 10% of the original sale price. The long HO put spread is basically worthless and I do not want to waste commission buying it back, unless I can get enough to cover commission and then some. I originally had a 2.12 covered call, but I had sold the covered HO futures on accident on another trade and never really had an opportunity to get thos futures back at what I considered a reasonable price so instead I decided to trade around those short calls and then sold the 2.27 puts just incase to cover that position or at least move my break even up.

At the same time I sold the 2.27 puts I also put on another 5 covered calls at the 2.27 strike. Two days ago I decided to sell one ATM straddle on RBOB with the possible intention of taking delivery on the short put.

I am still long the Mar/Mar RB/HO spread which is really one of my core positions. Today I added the Nov/Nov HO/RB spread as it has come in from 23 over to 12.90 over where I got in today. Dec is trading about 17 over so I will be looking for a move to around here as we move Dec becomes the prompt month.

That is all I have for now...Wish I could give more but have to head to a meeting.

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