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Hi M Simms,
It is difficult to post a profit profile on a trade
of this type since all the software I have available calculates it on
expiration. The problem is there are 3 different expiration dates in Ben's
trades, the LEAP the long puts, and the short calls.
I posted a simplified graph a few days ago
substituting the actual QQQ for the LEAPS, but it still does not take into
account the fact that the calls and puts expire in different
months.
If anyone has a program that will chart this let me
know.
Good luck and good trading,
Ray Raffurty
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
M.
Simms
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, April 07, 2002 6:48
AM
Subject: RE: [RT] Re: option update
Can someone
show the profit profile for this strategy which is basically a leveraged
covered call with marriaged put protection ???
<FONT color=#0000ff
size=2>
I want to know
what would happen to the position if the QQQs take-off northward.......would
the longer-term leap make-up for the losses in the put and call positions
?
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<FONT face=Tahoma
size=2>-----Original Message-----From: Dom
[mailto:domenick@xxxxxxxxxxxx]Sent: Saturday, April 06, 2002
10:05 PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re:
[RT] Re: option update
Closed positions produce income. On the closed
positions you said you made $8575.00. If not closed it is not income. It is
a hope, a dream, a possibility, an illusion, a mind trip.
You still have not clarified with your
one-liner. The drawdown on the April calls
of 2004 was $26750.00 at the time the
closed options generated $8575.00 in profit. You say," I am forgetting
the income from the calls sold". Once again, Were these calls to close
or open. If they were to open they do not result in P&L until they are
closed, epired, or terminated in some other manner. Using your own words you
say "on the CLOSED positions we are ahead $8575". You fail to mention the
drawdown of $26750.00. In addition you now want to count as income proceeds
of calls sold prior to their being closed out.
nice weekend,
Dom
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=profitok@xxxxxxxxxxxxx
href="mailto:profitok@xxxxxxxxxxxxx";>profitok
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, April 06, 2002 7:38
PM
Subject: Re: [RT] Re: option
update
you are forgetting the income from the calls
sold
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=domenick@xxxxxxxxxxxx
href="mailto:domenick@xxxxxxxxxxxx";>Dom
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, April 06, 2002 2:10
PM
Subject: Re: [RT] Re: option
update
Ben,
How can you be ahead $8575.00 if the
current value of the Jan. 2004 call is 6.70. 175x 6.70 is
$117250.00=current value. Cost of this entity was $144000.00 minus
$117250.00=$26750.00 drawdown. How can you accumulate money if you put 8
dollars in one pocket and you just lost 20+ in the other pocket
. Keep It simple KISS, as you like to say, so everyone who is
interested can follow clearly what you are doing. Yor posts regarding
this spread have not been clear at all. Is it possible this is the same
spread you said Guaranteed no loss, no drawdown?
Dom
<FONT face=Arial
size=2> <FONT face=Arial
size=2>
----- Original Message -----
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=profitok@xxxxxxxxxxxxx
href="mailto:profitok@xxxxxxxxxxxxx";>profitok
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Cc: <A
title=gannsghost@xxxxxxxxxxxxxxx
href="mailto:gannsghost@xxxxxxxxxxxxxxx";>gannsghost@xxxxxxxxxxxxxxx
Sent: Thursday, April 04, 2002
9:28 PM
Subject: Re: [RT] Re: option
update
Now that I have time let me finish
the closing of the long 175 qavph resulted in
a LOSS of $12500
selling 175 qqqfj result in income
of $30625
and
buying protection again 175 qavqh
cost $21000
current value
175 IRIAI is $120750
175 short qqqfj is worth
$28875
and long qavgh is worth $21875
on the closed positions we are ahead
$8575 in 4 week for a $133000
investment
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=profitok@xxxxxxxxxxxxx
href="mailto:profitok@xxxxxxxxxxxxx";>profitok
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Cc: <A
title=gannsghost@xxxxxxxxxxxxxxx
href="mailto:gannsghost@xxxxxxxxxxxxxxx";>gannsghost@xxxxxxxxxxxxxxx
Sent: Wednesday, April 03, 2002
10:11 AM
Subject: [RT] Re: option
update
just to let you know
we got filled on the buy to close 175 qqqej
at 1.75
net profit $21075
next
we are selling qavph
order to sell at.75
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=profitok@xxxxxxxxxxxxx
href="mailto:profitok@xxxxxxxxxxxxx";>profitok
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Cc: <A
title=gannsghost@xxxxxxxxxxxxxxx
href="mailto:gannsghost@xxxxxxxxxxxxxxx";>gannsghost@xxxxxxxxxxxxxxx
Sent: Monday, March 25, 2002
10:03 PM
Subject: option update
current value
remember purchasing 130000 of options in
the last 4 weekshere is the update as of today
closehere is the update as of today
closelong 175 IRIAI total
cost $144000 current value $$133000long
175 QAVPH cost $25625
current value $ 11375short 175
QQQEJ sold $44875 current
profit $16000have order to buy back to
close@ 1.35(qqqej)To
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