March 2003 Trades
This portfolio begins the first day of each month with $5,000 made up of the open positions from the previous month plus cash.
Disclaimer: This chart is for demonstration purposes only. No representation is made that these same returns are achieved by our subscribers. Remember, past performance is no guarantee of future results.
We suggest that when this portfolio is in negative territory most traders would best be served by standing aside.
| Position | Symbol | Contracts | Entry | Current | Profit/Loss | Value | Stop | Goal | Close Date |
| Price | Price | ||||||||
| MMM Apr$130Puts | MMM PF | 4 | $3.20 | $3.10 | ($40) | $1,240 | $1.95 | $5.00 | Open |
| OMC Apr$55P | OMC PK | 4 | $2.55 | $2.80 | $100 | $1,120 | $1.30 | $4.00 | Open |
| Total Value | $2,360 | ||||||||
| Bought | Sold | Date | Contracts | Price | Total | Cash | |||
| ($120) | |||||||||
| ERTS Sept$55C | 03/04/2003 | 3 | $4.50 | $1,350 | $1,230 | ||||
| CDWC Mar$50P | 03/04/2003 | 2 | $10.70 | $2,140 | $3,370 | ||||
| NOC Mar$90P | 03/04/2003 | 3 | $3.30 | $990 | $4,360 | ||||
| CTSH Mar$65C | 03/06/2003 | 3 | ($6.10) | ($1,830) | $2,530 | ||||
| CAM Mar$50C | 03/06/2003 | 4 | ($2.95) | ($1,180) | $1,350 | ||||
| CTSH Mar$65C | 03/10/2003 | 3 | $4.60 | $1,380 | $2,730 | ||||
| JCI Mar$80P | 03/10/2003 | 4 | ($4.60) | ($1,840) | $890 | ||||
| ITT Mar$55P | 03/10/2003 | 4 | ($3.40) | ($1,360) | ($470) | ||||
| CAM Mar$50C | 03/11/2003 | 4 | $1.70 | $680 | $210 | ||||
| JCI Mar$80P | 03/11/2003 | 4 | $6.50 | $2,600 | $2,810 | ||||
| CAH June$55P | 03/12/2003 | 3 | $5.50 | $1,650 | $4,460 | ||||
| ITT Mar$55P | 03/12/2003 | 4 | $4.50 | $1,800 | $6,260 | ||||
| AGN July$65P | 03/12/2003 | 3 | ($5.20) | ($1,560) | $4,700 | ||||
| AGN July$65P | 03/14/2003 | 3 | $3.70 | $1,110 | $5,810 | ||||
| SYMC April $45P | 03/18/2003 | 5 | ($1.80) | ($900) | $4,910 | ||||
| SYMC April $45P | 03/20/2003 | 5 | $2.80 | $1,400 | $6,310 | ||||
| UTX Apr$60Puts | 03/20/2003 | 5 | ($2.00) | ($1,000) | $5,310 | ||||
| CCMP Apr$45Calls | 03/20/2003 | 3 | ($4.30) | ($1,290) | $4,020 | ||||
| CCMP Apr$45Calls | 03/21/2003 | 3 | $5.30 | $1,590 | $5,610 | ||||
| AZO Apr$70C | 03/21/2003 | 4 | ($4.00) | ($1,600) | $4,010 | ||||
| AZO Apr$70C | 03/24/2003 | 4 | $4.00 | $1,600 | $5,610 | ||||
| MMM Apr$130Puts | 03/24/2003 | 4 | ($3.20) | ($1,280) | $4,330 | ||||
| EBAY Apr$90P | 03/27/2003 | 4 | ($3.20) | ($1,280) | $3,050 | ||||
| OMC Apr$55P | 03/27/2003 | 4 | ($2.55) | ($1,020) | $2,030 | ||||
| UTX Apr$60Puts | 03/28/2003 | 5 | $3.00 | $1,500 | $3,530 | ||||
| CEPH Apr$40C | 03/28/2003 | 4 | ($3.50) | ($1,400) | $2,130 | ||||
| CEPH Apr$40C | 03/31/2003 | 4 | $2.25 | $900 | $3,030 | ||||
| EBAY Apr$90P | 03/31/2003 | 4 | $6.00 | $2,400 | $5,430 | ||||
| Portfolio | Value | $7,790 | |||||||
| March | Profit/(Loss) | $2,790 |
Spread trades are based on the assumption that we have $2,500 available per trade. We offer trades as we find them. You should not try to make all trades, but pick and choose your spots.
| Date | Trade Type | Underlying Index | Expiration Month | Type Of Order | Strike Price | Option Type | Option Symbol | Opening Price* | Net Credit |
| 2/13/03 | Bear Credit Spread | DJX | March |
Buy To Open Sell To Open |
87 82 |
Call Call |
DJX CI DJX CD |
-$.30 +$1.15 |
$.85 |
| Opening Debit (-) Credit (+) |
Number Of Contracts |
Cost of Trade |
Additional Margin Requirements |
Current Liquidation Value |
Profit (Loss) |
Stop |
Current Probability of Profit |
| .85 |
5 |
+425 |
$2075 | -575 | -150* | -425 |
This trade is a bet that the DJX will be below $82 (The Dow Jones industrial average will be below 8200) when March options expire on March 22nd.
*This trade closed on 3/20/03 for a $150 Loss.
| Date | Trade Type | Underlying Stock | Expiration Month | Type Of Order | Strike Price | Option Type | Option Symbol | Opening Price* | Net Debit |
| 2/24/03 | Calendar Spread | AZO | September March |
Buy To Open Sell To Open |
70 70 |
Call Call |
AZO IN AZO CN |
$.95 +$5.60 |
4.65 |
| Opening Debit (-) Credit (+) |
Number Of Contracts |
Cost of Trade |
Additional Margin Requirements |
Current Liquidation Value |
Profit (Loss) |
Stop |
Current Probability of Profit |
| -$4.65 |
5 |
-2325 |
$0 | 3125 | +800* | -475 |
This trade is a bet that AZO will be below, but near $70 when March options expire on March 22nd.
*This trade closed on 2/28/03 for a $800 Gain.
AZO IN sold for $7.20
AZO CN bought for $.95
| Date | Trade Type | Underlying Stock | Expiration Month | Type Of Order | Strike Price | Option Type | Option Symbol | Opening Price* | Net Credit |
| 2/25/03 | Bear Credit Spread | PLMD | March |
Buy To Open Sell To Open |
35 30 |
Call Call |
PM CG PM CF |
-$.35 +$1.30 |
$.95 |
| Opening Debit (-) Credit (+) |
Number Of Contracts |
Cost of Trade |
Additional Margin Requirements |
Current Liquidation Value |
Profit (Loss) |
Stop |
Current Probability of Profit |
| $.95 |
5 |
+475 |
$2025 | -400* | +75
|
-475 |
This trade is a bet that the PLMD will be below $30 when March options expire on March 22nd.
*This trade closed on 3/21/03 for a $75 Gain.
| Date | Trade Type | Underlying Stock | Expiration Month | Type Of Order | Strike Price | Option Type | Option Symbol | Opening Price* | Net Credit |
| 2/26/03 | Bear Credit Spread | GS | March |
Buy To Open Sell To Open |
75 70 |
Call Call |
GS CO GS CN |
-$.30 +$1.05 |
$.75 |
| Opening Debit (-) Credit (+) |
Number Of Contracts |
Cost of Trade |
Additional Margin Requirements |
Current Liquidation Value |
Profit (Loss) |
Stop |
Current Probability of Profit |
| $.75 |
5 |
+375 |
$2125 | -250 | +125* | -375 |
This trade is a bet that the GS will be below $70 when March options expire on March 22nd.
*This trade closed on 3/21/03 for a $125 Gain.
| Date | Trade Type | Underlying Stock | Expiration Month | Type Of Order | Strike Price | Option Type | Option Symbol | Opening Price* | Net Credit |
| 2/28/03 | Bull Credit Spread | SYMC | March |
Buy To Open Sell To Open |
40 45 |
Puts Puts |
SYQ OH SYQ OI |
-$.30 +$.90 |
$.60 |
| Opening Debit (-) Credit (+) |
Number Of Contracts |
Cost of Trade |
Additional Margin Requirements |
Current Liquidation Value |
Profit (Loss) |
Stop |
Current Probability of Profit |
| $.60 |
5 |
+300 |
$2200 | -600 | -$300 | -300* |
This trade is a bet that SYMC will be above $45 when March options expire on March 22nd.
*This trade closed on 2/28/03 for a $300 Loss.
| Date | Trade Type | Underlying Stock | Expiration Month | Type Of Order | Strike Price | Option Type | Option Symbol | Opening Price* | Net Credit |
| 3/4/03 | Bear Credit Spread | OMC | March |
Buy To Open Sell To Open |
60 55 |
Call Call |
OMC CL OMC CK |
-$.20 +$1.10 |
$.90 |
| Opening Debit (-) Credit (+) |
Number Of Contracts |
Cost of Trade |
Additional Margin Requirements |
Current Liquidation Value |
Profit (Loss) |
Stop |
Current Probability of Profit |
| $.90 |
5 |
+450 |
$2050 | --675 | -225* | -450 |
This trade is a bet that OMC will be below 55 when March options expire on March 22nd.
This trade closed on 3/21/03 for a $225 Loss.
| Date | Trade Type | Underlying Stock | Expiration Month | Type Of Order | Strike Price | Option Type | Option Symbol | Opening Price* | Net Credit |
| 3/5/03 | Bear Credit Spread | MMM | March |
Buy To Open Sell To Open |
130 125 |
Call Call |
MMM CF MMM CE |
-$.50 +$1.95 |
$1.45 |
| Opening Debit (-) Credit (+) |
Number Of Contracts |
Cost of Trade |
Additional Margin Requirements |
Current Liquidation Value |
Profit (Loss) |
Stop |
Current Probability of Profit |
| $1.45 |
5 |
+725 |
$1775 | -1450 | -$725* | -725 |
This trade is a bet that MMM will be below 125 when March options expire on March 22nd.
*This trade closed on 3/17/03 for a $725 Loss.
Our march spread trading results was quite frustrating in that they were all good plays that had significant resistance just below the first strike price. It took an extraordinary rally to send them into the money, and the peak of that rally coincided with March expiration day.
| Date | Trade Type | Underlying Stock | Expiration Month | Type Of Order | Strike Price | Option Type | Option Symbol | Opening Price* | Net Debit |
| 3/26/03 | Straddle | IGT | April |
Buy To Open Buy To Open |
85 85 |
Call Put |
IGT DQ IGT PQ |
1.85 3.80 |
$5.65 |
| Opening Debit (-) Credit (+) |
Number Of Contracts |
Cost of Trade |
Additional Margin Requirements |
Current Liquidation Value |
Profit (Loss) |
Stop |
Current Probability of Profit |
| $5.65 |
4 |
-2260 |
$0 | 2020 | -$240 | -500 | 32% |
This portfolio begins the first day of each month with $5,000 made up of the open positions from the previous month plus cash.
Disclaimer: This chart is for demonstration purposes only. No representation is made that these same returns are achieved by our subscribers. Remember, past performance is no guarantee of future results.
We suggest that when this portfolio is in negative territory most traders would best be served by standing aside.
| Position | Symbol | Contracts | Entry | Current | Profit/Loss | Value | Stop | Goal | Close Date |
| Price | Price | ||||||||
| OEX April $410 P | OXB PB | 1 | $9.00 | $5.10 | ($390) | $510 | $2.00 | $14.00 | Open |
| $DJX Apr$82P | DJX PD | 4 | $4.00 | $3.10 | ($360) | $1,240 | $2.00 | $6.50 | Open |
| $DJX Apr$82P | DJX PD | 4 | $2.00 | $3.10 | $440 | $1,240 | $2.00 | $4.00 | Open |
| OEX April $410 P | OXB PB | 1 | $4.00 | $5.10 | $110 | $510 | $2.00 | $8.00 | Open |
| Total Value | $3,500 | ||||||||
| Bought | Sold | Date | Contracts | Price | Total | Cash | |||
| $3,580 | |||||||||
| OEX Apr$400P | 03/04/2003 | 1 | ($10.90) | -1090 | $2,490 | ||||
| OEX Apr$400P | 03/12/2003 | 1 | $17.00 | 1700 | $4,190 | ||||
| OEX Apr$380P | 03/13/2003 | 1 | $5.50 | 550 | $4,740 | ||||
| MNX Apr$95P | 03/13/2003 | 3 | $3.00 | 900 | $5,640 | ||||
| OEX April $410 P | 03/17/2003 | 1 | ($9.00) | -900 | $4,740 | ||||
| $DJX Apr$82P | 03/17/2003 | 4 | ($4.00) | -1600 | $3,140 | ||||
| OEX April $410 P | 03/24/2003 | 1 | ($4.00) | -400 | $2,740 | ||||
| $DJX Apr$82P | 03/24/2003 | 4 | ($2.00) | -800 | $1,940 | ||||
| Portfolio | Value | $5,440 | |||||||
| March | Profit/(Loss) | $440 |