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Profitable Option Trading...

Building Wealth Using the Power of Credit Spread Options

A recent Weekly Update emailed and posted to the Members Page:

Weekly Update Posted on the Members Page.

6/8/2008:  The 3 filled June Bull Put trades continue to be very safe with only 13 days remaining to expiration. We were able to complete one Iron Condor trade last week when the RUT Bear Call trades was filled. This Iron Condor has a return of 6.4%. Even though the Dow dropped 400 points one day last week the Bull Put trades are still safe with lots of distance remaining.  I am researching new trades expiring in July later this week after the market settles down from the bad economic news and record oil and gas prices last week.

I am creating new flash movies this month to illustrate how to select and order credit spread trades using OptionsHouse. These movies will be playable from the members flash movie page. This broker is very popular now and continues to add new features. Their fees are the lowest of all the options brokers and my trades are getting filled quickly when the markets cooperate.

New Trades not Filled Yet

This trade will be replaced this week unless the Dow recovers the 400 points lost last week.

6/1/2008 Trade: (Ordered 6/1/2008) This June DIA 134/132 Bear Call Spread currently has a bid/ask of .05/.10. My limit amount for this order will be .08 cents. The return for this trade is 4.2%. This trade will be filled if the DIA index (DOW) rises next week. This trade also completes the DIA Iron Condor trade if you have the DIA 112/114 Bull Put trade filled. Margin is only required for one side on this Iron Condor trade which has a 8.7% total return.

June Trades Expiring 6/20/2008

Trade Initiated

Expires

Index

Spread Type

Bull Put Long Strike

Bull Put Short Strike

Bear Call Short Strike

Bear Call Long Strike

Stop Loss Prices

Initial Credit

Margin Required

Status

 Profit %

June Trades Ordered / Not Filled

 

 

 

 

 

 

 

Ordered 6/1

6/20/2008

DIA

Bear Call

 

 

132

134

129

$8

$192

Ordered

4.2%

June Trades Filled and Open

 

 

 

 

 

 

 

Ordered 5/18 Filled 5/19

6/20/2008

RUT

Bull Put

630

640

800

810

670 and 770

$60

$940

Filled and Open

6.4%

Ordered 5/18 Filled 5/19

6/20/2008

NDX

Bull Put

1750

1775

 

 

1815

$75

$2425

Filled and Open

3.1%

Ordered 5/11 Filled 5/12

6/20/2008

DIA

Bull Put

112

114

 

 

117

$8

$192

Filled and Open

4.2%