Not bad for a second week.
We still have 75% of our buying power unused and we are right on track for our $2,500 monthly goal having already sold over $5,000 of contracts back in week one. Being able to produce this kind of income with just $25,000 at work is a great start and we didn't even get all the fills we wanted! 19 legs are open at this point on the same 8 stock positions we started with on August 23rd and it has truly been a no hassle virtual portfolio despite the wild stock market moves indicating we have achieved our primary goal of having good balance.
We have a virtual portfolio that is updated live at Wallstreetsurvivor.com (Premium and Basic Members who want to follow can used THIS LINK to sign in) with a $100,000 opening balance at standard 50% broker margins and $10 per transaction fees and we've had some difficulties at the start but their new system should be up and running next week and, if it works as intended, I'll be starting a second virtual portfolio to track a new buy list as well. The $100KP is a very conservative virtual portfolio and a lot of the moves we've made have traded safety for profit and I know that is frustrating for our more aggressive members who find $2,500 a month (30% a year) too tedious as a goal.
I was very excited that we had such a nice sell-off but we didn't get the chance to pull the buy trigger on new positions as the market took off Thursday afternoon and kept running. We'll get to new possiblilities at the end of this post but, for now, let's review where we are on the current positions. As WSS isn't working properly yet, I've copied their results page here:
| DESCRIPTION | PRICE PAID | LAST PRICE | QTY | MARKET VALUE | MARGIN | PROFIT LOSS | % |
|---|---|---|---|---|---|---|---|
| AIG CALL 30 Jan 11 | $13.45 | $20.00 | 1 | $2,000.00 | $0.00 | $655.00 | 48.70% |
| AIG PUT 35 Sep 09 | $3.95 | $2.08 | -1 | $208.00 | $558.00 | $187.00 | 47.34% |
| BAC CALL 10 Jan 11 | $8.60 | $8.35 | 5 | $4,175.00 | $0.00 | -$125.00 | -2.91% |
| BAC CALL 17 Oct 09 | $1.27 | $1.31 | -5 | $655.00 | $1,936.75 | -$20.00 | -3.15% |
| BAC PUT 17 Sep 09 | $0.51 | $0.57 | -5 | $285.00 | $1,521.75 | -$30.00 | -11.76% |
| BAC PUT 20 Jan 11 | $5.45 | $6.15 | 5 | $3,075.00 | $0.00 | $350.00 | 12.84% |
| C CALL 4 Mar 10 | $1.55 | $1.40 | 5 | $700.00 | $0.00 | -$75.00 | -9.68% |
| C PUT 5 Oct 09 | $0.52 | $0.56 | -5 | $280.00 | $643.75 | -$20.00 | -7.69% |
| CROX CALL 4 Mar 10 | $3.70 | $2.80 | 5 | $1,400.00 | $0.00 | -$450.00 | -24.32% |
| CROX CALL 6 Sep 09 | $1.30 | $0.63 | -5 | $315.00 | $798.00 | $335.00 | 51.54% |
| CROX PUT 7 Sep 09 | $0.75 | $0.70 | -5 | $350.00 | $833.00 | $25.00 | 6.67% |
| FAZ CALL 17 Sep 09 | $6.10 | $8.00 | 2 | $1,600.00 | $0.00 | $380.00 | 31.15% |
| FAZ CALL 22 Sep 09 | $2.90 | $3.60 | -2 | $720.00 | $1,468.50 | -$140.00 | -24.14% |
| DESCRIPTION | PRICE PAID | LAST PRICE | QTY | MARKET VALUE | MARGIN | PROFIT LOSS | % |
|---|---|---|---|---|---|---|---|
| LZB - Stock | $9.21 | $8.89 | 500 | $4,445.00 | 0 | -$160.00 | -3.47% |
| LZB CALL 7.5 Jan 10 | $2.70 | $2.20 | -5 | $1,100.00 | $0.00 | $250.00 | 18.52% |
| LZB PUT 7.5 Jan 10 | $1.15 | $0.90 | -5 | $450.00 | $825.00 | $125.00 | 21.74% |
| PSQ CALL 50 Jan 10 | $3.38 | $3.38 | 5 | $1,690.00 | $0.00 | $0.00 | 0.00% |
| PSQ CALL 55 Jan 10 | $2.20 | $2.20 | -5 | $1,100.00 | $2,528.25 | $0.00 | 0.00% |
| UYG CALL 4 Jan 11 | $2.45 | $2.25 | 10 | $2,250.00 | $0.00 | -$200.00 | -8.16% |
| UYG CALL 5 Oct 09 | $0.95 | $0.65 | -10 | $650.00 | $1,452.80 | $300.00 | 31.58% |
| UYG PUT 5 Oct 09 | $0.25 | $0.30 | -10 | $300.00 | $800.00 | -$50.00 | -20.00% |
Unfilled orders at the moment are as follows:
| DESCRIPTION | QTY | ORDER | ORDER PRICE | ORDER DATE | STATUS | STATUS/COMMENT |
|---|---|---|---|---|---|---|
| C CALL 5 Oct 09 | -5 | LIMIT - SHORT - GTC | $0.70 |
8/30/2009 7:41 PM |
OPEN
|
Now .41 but hope springs eternal. |
