Option Millionaires

[leemalone2k3]

Update PCLN ER repair trades:

Short PCLN next week 710c at 3.10.


PCLN diagonal trade results from earlier this week.

Tuesday 2/26
Bot Mar 700c at 16.50
Sold weekly 730 calls short at 5.40 covered at .65 for +4.75 gain.

Wednesday 2/27
Short weekly 720c at 1.75, covered today at .10 for +1.65 gain.
This brings the cost of my Mar 700c down to 10.10 as of now.

Thursday 2/28
Short weekly 685c at 4.50
Covered 685 short call at 3.80 for a .70 scalp.
This brought the cost of the Mar 700a to 9.40.
I am short 685 once again at 6.00

Friday 3/1

Covered weekly 585c at 4.20 today for 1.80 gain.
This brings the cost of the Mar 700 call down to 7.60.

Short PCLN weekly 695c 2.75 covered .40 for 2.35 gain
This brings the cost of the Mar 700c down to 5.25
Short weekly 710c at 3.10

Monday 3/4
Buy Weekly 705c at 5.20
Now holding a weekly vertical spread.
Long 705wc 5.20
Short 710c 3.10
This spread cost 2.10 = max loss if PCLN closes below 705 on Friday
Max Gain=2.40 if PCLN closes above 710 on Friday
Break even stock price is 707.20 on Friday.

Still holding Mar 700c from 5.25 cost.