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Ultra S&P ETF (SSO) - Position Update


Written on March 12, 2009 – 9:21 pm | by admin

Like I said I was going to do a few days ago, I sold my remaining calls when the S&P got to 741.  Seeing that the market ran another percent and a half, I may have to roll these positions.  Hopefully the market will take next week off and not surge another 4-5% and my underwater calls can expire worthless.  I will sell the April calls when the market starts to look weak or we get back to S&P 800.

Position 1:
Purchased: 100 @ 33.85
Initial Option Income: $5.30
Mar $19 Option Income: $0.20
Other Option Income: $1.55
Expected Return: -29.11%

Position 2:
Purchased: 100 @ 31.28
Initial Option Income: $3.10
Mar $19 Option Income: $0.20
Other Option Income: $1.55
Expected Return: -27.93%

Position 3:
Purchased: 100 @ 30.55
Initial Option Income: $1.95
Mar $19 Option Income: $0.30
Other Option Income: $1.45
Expected Return: -29.23%

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