Thursday, November 1, 2012

Profitable Trade: Conoco Phillips (COP) Naked Puts

I know it's been awhile since I posted. I've been busy at work, play and with family. In any event I closed the following transaction for a profit:

09/05/12   STO 3 COP Oct 20 50 Puts @.38    $101.73
10/02/12   BTC 3 COP Oct 20 50 Puts @.04       -12.06

In this trade I made $89.67 in 26 days on ~$1500 in margin maintenance. This equates to a return on maintenance of 5.98% or 83.95% annual. I closed the trade for a profit without paying a commission.

I've got other trades to report and I'll try to post once a day for a while and get back in the swing of things.

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