skip to main | skip to sidebar Unbelievable Options Trader The purpose of this blog is to detail my options tradesNothing in this blog constitutes financial advice Friday, May 7, 2010 Buying Recap The options I'm currently holding:C May 2010 4 Put @ .03F Jun 2010 13 put @ 2.20 BAC Jun 2010 19 put @ 3.15 QQQQ Jun 2010 49 put @ 3.85 HD Jun 2010 35 put @ 2.4 COF Jun 2010 44 put @ 4.1 Posted by Unbelievable Options Trader at 11:29 PM 0 comments Closing Recap With options expiration looming (May 21), I decided to close out all my May positions and move them to June, with the exception of my Citigroup puts. This month's gains are already much better than last. I will hold off on selling C puts until later. It may be a big mistake considering my current gains, but my puts could spike considerably higher if the market tumbles further, which I believe will happen.All numbers are rounded to the nearest percentProfit or loss = selling price / (buying price + $0.75 per option contract) - starting principal (100%) - selling commissions ($0.75 per option contract + fees)I earned a 2.92/1.7175 - 100% = 70% profit on the F May 2010 14 put - selling commissions (1%) = 69% net profitI earned a 4.05/1.6975 - 100% = 139% profit on the BAC May 2010 20 put - selling commissions (1%) = 138% net profitI earned a 4.5/1.6475 - 100% = 174% profit on the QQQQ May 2010 50 put - selling commissions (1%) = 173% net profitI earned a 3.30/3.1575 - 100% = 5% profit on the COF May 2010 45 put - selling commissions (1%) = 4% net profitI incurred a 1.8/2.4575 - 100% = 27% loss on the HD May 2010 35 put - selling commissions (1%) = 28% net loss69% + 138% + 173% + 4% - 28% = 356% / 5 options = 71% gain so farIf I break even with C puts, 356% / 6 options = 59% gainTotal Net Profit = 59%I never compound previous gains from past months; I only add to them. When you play with near-term options, in any given month, you can lose a large percentage of your money.Cumulative effect = 160% of original amount Poste