Our $100K Virtual Portfolio is not doing so well.
Staying in cash after taking a big loss on FAZ did not turn out to be a good move as FAZ went deeper in the red and the cash didn't go up. We had fantastic winners on our upside plays, which were:
| Symbol | Description | QTY | Price Paid | Last Price | Change | MKT Value | Profit Loss | % |
|---|---|---|---|---|---|---|---|---|
| GENERAL ELECTRIC CO VGE1122A15 | GE CALL 15 Jan 11 | 5 | $2.24 | $4.75 Stock: $19.35 | $0.40 | $2,375.00 Margin: $0.00 | $1,255.00 | 112.05% |
| SUNPOWER CORPORATION QRU1017P19 | SPWRA PUT 19 Apr 10 | -5 | $2.00 | $0.80 Stock: $18.26 | -$0.11 | $400.00 Margin: $2,682.50 | $600.00 | 60.00% |
| VALERO ENERGY CORP VLB1017P18 | VLO PUT 18 Apr 10 | -5 | $1.10 | $0.02 Stock: $20.36 | $0.00 | $10.00 Margin: $1,375.00 | $540.00 | 98.18% |
| SIRIUS XM RADIO INC QXO1017P1 | SIRI PUT 1 Apr 10 | -50 | $0.15 | $0.05 Stock: $1.07 | $0.00 | $250.00 Margin: $1,235.63 | $500.00 | 66.67% |
| MEMC ELECTRONIC MATERIALS CJC1017P12 | WFR PUT 12 Apr 10 | -5 | $0.85 | $0.01 Stock: $16.82 | -$0.01 | $5.00 Margin: $605.00 | $420.00 | 98.82% |
| GENERAL ELECTRIC CO VGE1122M12.5 | GE PUT 12.5 Jan 11 | -10 | $0.70 | $0.29 Stock: $19.35 | -$0.02 | $290.00 Margin: $1,540.00 | $410.00 | 58.57% |
| PROSHARES ULTRA FINANCIALS UUF1017P5 | UYG PUT 5 Apr 10 | -20 | $0.16 | $0.01 Stock: $7.75 | $0.00 | $20.00 Margin: $1,020.00 | $300.00 | 93.75% |
| KEYCORP KEY1017P7 | KEY PUT 7 Apr 10 | -5 | $0.45 | $0.04 Stock: $8.52 | $0.00 | $20.00 Margin: $370.00 | $205.00 | 91.11% |
Clearly we should have deployed more cash! For now we'll just worry about the adjustments as we are down $8,000 but mostly pending losses on our short-side hedge plays. Let's try to make long and short adjustmens as follows:
- GE - No adjustment as that's a bull call vertical with $910 of our losses coming from the Jan $17.50 calls we sold. That will only resolve itself over time and it's one of the things you have to get used to with vertical plays as our Jan $15 calls have .40 of premium left at $4.75 while the Jan $17.50s we sold are $2.84 with $1 in premium so, on paper, we are down .60 per contract based on premium alone.
