16/06/2010 - Thoughts

Recent rally movements these few days tested the price position of my counters. i did a hedge a while ago to both AMD & LVS to avoid Big movements in either Up or Down.

While awaiting for June's expiry, last few days market have done some major range movements. Especially when the recent upward movement, got issued 2 margin calls of abt $2.4k & $500 due on June 16 & 17 respectively. So choices have been made to release margin back to the acct.

Reduced my hedge quantity & mainly my 'bonus' AMD Shares position have been sold to improve Cash Liquidity as well. If you noticed, my Cash In Acct remains relatively high, infact in times of Major movements, my Acct Value stands at ard USD$42k while my Cash in Acct rises.

Lesson Learnt, Margin/Leveraging used is too high. I'll adjust my rule of Margin Usage to ensure that i do not get Margin Calls which might caused my 'Favourable' positions to be liquidated.

14/06/2010

Market Price of LVS = $25.99
STO, LVS Sep $19 Put @2.93 , Nett Premium = $1,1961.09 (Open 41lot, 20May10- )

STO LVS Jun10 $25 Call @0.41 , Nett Premium = -$6,376.43 (Roll 41lot, 21May10-14Jun10)
Buy to close, LVS Jun10 $25 Call @$1.94
41 contracts
Comissions= ($47.66)
Fees= ($4.04)
Nett Amount Received/Paid = ($8,005.70)

Sell to open, LVS Jul10 $26 Call @2.29
41 contracts
Comissions= ($47.66)
Fees= ($4.20)
Nett Amount Received/Paid = $9,337.14

Market Price of AMD = $8.28
Stock : Purchased AMD @9.18, Paid $7,353.95 @$9.1924 per share (Open 8lot, 30Mar10- )
Stock : Purchased AMD @9.90, Paid $5,949.95 @$9.90 per share (Open 6lot, 14Apr10- )
STO AMD Jan11 $9 Call @1.25, Nett Premium = $1,732.32 (Open 14lot, 20May10- )
STO AMD Oct10 $8 Put @1.15 , Nett Premium = $5,472.108 (Open 48lot, 07May10- )
STO AMD Jan11 $7.50 Put @1.1458 , Nett Premium = $5,892.33 (Open 52lot, 19May10- )
STO AMD Jan11 $9 Call @1.3796 , Nett Premium = $13,669.66 (Open 100lot, 19May10- )

01/06/2010

Interests Received 28/05/2010: $0.90