Seeking Alpha
  • Will Erlandson
    Raised cash for selling $FB puts by exiting my $LF position. 17% gain in 1 month (8.40>9.90 including the covered calls).
    5/24/13
    Reply (12)
    • Will Erlandson: Slight change in plan; bought JUL 25 $FB calls instead of selling puts. Volatility favored buying over selling IMO.
      5/24/13
    • Will Erlandson: .99 entry on those calls for anyone keeping score at home.
      5/24/13
    • Will Erlandson: Sold next week's 24.5 calls against my $FB calls for .44. Not getting the bounce I was anticipating. Staying hedged until the rise begins.
      5/28/13
    • Will Erlandson: Bought those hedge calls back for .17. Adjusted cost basis $.72 on long calls, currently so currently a net loss of a dime.
      5/29/13
    • Will Erlandson: Locked in gains this morning by selling next week's 25 call for .22. Current net gain 16%.
      5/30/13
    • Will Erlandson: Bought those calls back for .05. Still up on the trade despite being wrong directionally over the short term.
      6/4/13
    • Will Erlandson: Adj. cost basis now .55 on my long calls, which are marked at .71.
      6/4/13
    • Will Erlandson: Did a small add. Cost basis now down to .53.
      6/4/13
    • Will Erlandson: Added again today at .47.
      6/5/13
    • Will Erlandson: Sold JUN4 25.5 calls against my long calls for .30.
      6/11/13
    • Will Erlandson: And bought those back 2 days ago for $.04. It's not my intent to be late in reporting the trade, but I'm transitioning to a full time job...
      6/28/13
    • Will Erlandson: 47-26 = a current cost basis of 21; sold next week's 25's against my JUL 25s. Sucking out the vol again will mean playing with the house's $
      6/28/13