Adjust & CLOSE VIP CALL DIAG -50%
Monday Bought back FEB 35 Call for 2.55 for a debit of .45
Thursday Sold JUN09 35 Calls for 4.20 Credit. Clearly this trade has gone against me and is no longer in an uptrend.
Par for the course this year, The trend changes. 
Original Cost Basis: 8.20
Adjusted Cost Basis:
Jan Credit 2.00
Feb debit .45 (2.20 – 2.55)
Jun Credit 4.20
Total Credits = 6.20
Max Debit is 2.45
Buying Power effect / Risk is 500
Exits:
Closed Spread for – 2.20
Today (2/13/2008) VIP is hanging out at the 30 DMA. It has not closed above it even with the volume earlier this week. This is not to say it wont by Friday.
About Tryumph Trader
I was born in the Catskill mountains of NY. The product of an Organic Produce Farmer and a Musician, you can bet that I had a very colorful and interesting upbringing. I became a student of Investools in April 2004. The spark of active Investing was ignited and I have been fanning the fire ever since. I was one of several students/group leaders who were instrumental in promoting the value of students getting together as a group for support. I am now the User Group Administrator for Investools [SWIM]. My husband is a CCIE (cisco geek). We have 4 amazing boys, 8yrs, 6.5 yrs, 4.5 yrs and 1.5yrs old. The older two are already learning how to trade ETFs. We currently live in Northern VA.
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