Here is the breakdown of the final purchases:
Available cash balances from my original allocations:
Sprint Nextel: (NYSE:S): $750
SunPower (NASDAQ:SPWR): $2,034
MEMC Electronic Materials (WFR): $1,274
Sprint (S): I used the $750 balance to purchase the following:
Bought 50 CALL contracts May 18, 2013, $6.00 Strike Price @$0.14 at a cost of $700 + $48 (Commissions) = $748 Balance = $2 Cash
SunPower (SPWR): I used the $2,034 balance to purchase the following:
Bought 32 CALL contracts March 16, 2013, $6.00 Strike Price,
@ $0.61 at a cost of $1,952 + $35 (Commissions) = $1,987 ;
Balance = $47 Cash
MEMC Electronic Materials (WFR): I used the $1,274 balance to purchase the following:
Bought 27 CALL contracts April 20, 2013, $3.50 Strike Price,
@ $0.45 at a cost of $1,215 + $31 (Commissions) = $1,246 ;
Balance = $28 Cash
Final Remaining Cash Balance: $2,000 + $2 (From Sprint) + $47 (From SunPower) + $28 (From MEMC) = $2,077
I will wait to find a compelling opportunity to put my cash balance to work...
P.S. I have included Ameritrade's real time images of Option tables with the appropriate purchase prices highlighted in magenta.
DISCLAIMER: All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is definitely not for the faint of heart as one's portfolio can move up, or down, anywhere between 10%-30% during a single trading day. Feel free to follow my progress here, but PLEASE do not follow my moves. However, if, in spite of all my exhortations, should you decide to do so, be advised that you, and ONLY YOU will be responsible for any losses that you may suffer...In other words, the onus is strictly on you.