Covered the remaining short on Citigroup at $38.96
Shorted @ $4.51 before the reverse split
its equivalent to $45.10 after split
P&L = + $6.14 per share
Shorted Citigroup @ $4.51. Gapped up Doji today.. sign of reversal?
after rebounding from its low earlier this week, friday's daily candle showed a gapped up DOJI.
we see that as a sign of reversal and so we placed a short on Citi and it was filled at $4.51
Delta Hedge… bought AMD at 8.64
to delta hedge our March $9 putSold 150 shs of Marvell Technology (MRVL), covered 2×100 Jan 2011 MRVL $20 Call , shorted 200 shs of Marvell Technolgy (MRVL)
we were long 150 shs of MRVL while shorting a Jan 2011 $14 and $15 Put and a $20 Call.
today, it was reported that MRVL's chip being used in Research In Motion's PlayBook is buggy and its rumored that RIMM is replacing it with TXN's chip for the 2nd gernation playbook.
MRVL has reached double top at $18 and we believe it could turn back downwards.
We closed out long stock position and the short call.
Sold MRVL @ $16.71 : P&L +$300
Covered MRVL Jan 2011 $20 Call @ $0.35 : P&L + $73
on top of that, we have just shorted 200 shs at $16.70
Sold 350 shs of Marvell Technology @ $17.09, covered 5 Oct $17 Call, finance by shorting 2×100 Jan2011 $14 Put, 2×100 Jan2011 $15 Put, and 2×100 Jan2011 $20 Call
P&L for Cash : $833
Cost of Covering $17 Sept Call : 0.97 x 500 = $485
Amount received for finance : 0.73 x 200 + 0.90 x 200 + 0.64 x 200 = $454
Did a Forward and Up Roll for MRVL: Covered 5×100 Sept 2010 $16 Call & Shorted 5×100 Oct 2010 $17 Call at debit $0.10
Marvell Technology could go higher on takeover speculations.
We would like to capture more gains by covering our Sept $16 call and forward up rolled it into a Oct $17 call.
net cost 10 cents
Shorted 100 shs of AMD at $6.00. Full delta hedge on our Sept/Oct $7 Calendar Put Spread
Buy-Write 500 shs / 5×100 covered call on Marvell Technology
We bought 500 shs of MRVL at 14.70 and sold 5×100 Sept10 $16 Call at $0.35.max profit $825
Sold 230 shs of Microsoft (Nasdaq: MSFT) @ 25.52
sold all of our shs as we have sold our put earlier
P&L +$39.10
Covered 100 shs of Microsoft (MSFT) @ $25.37, then bought 230 shs of MSFT at $25.35 , delta hedging our straddle
we covered our short in MSFT
P&L + $86
we then made another adjustment to our delta by buying 230 shares of MSFT at $25.35, which is half of the gamma value.
