$100,000 Portfolio Update - Week 5

Well this has been annoying … After 30 days of trading our current portfolio value is just $100,454.39 as we took quite a setback when we sold naked calls ahead of the move up.  Fortunately, we didn’t lose our cool and rode it out.  In fact, we only made one trade in the past two weeks so there hasn’t been much to report and there still isn’t but the end of our first month is a good time for an update.  Of course, we do have a lot of outstanding October Premium to collect so the next two weeks are when we make our real money … We still have $92,315 in cash so plenty of buying power should we choose to deploy it but we are sticking with our plan of scaling into the postions we have, which means we’re letting them run out through October 16th expirations and we’ll see if we finally get the bargains we’ve been waiting for to set up our longer term bull plays.  For now, in this VERY conservative, low-touch portfolio, we’ve been following Warren Buffett’s Investing Rule #1:  Don’t lose money! Description Price Paid Last Price Qty Market Value Margin  Req. Profit Loss % AIG CALL 40 Oct 09 $6.30 $5.50 -1 $550.00 $1,196.20 $80.00 12.70% On target with AIG at $43.40, this is typical of our outstanding sales with the VIX so high - we just have to wait . AMZN CALL 90 Oct 09 $3.60 $2.80 -10 $2,800.00 $16,127.50 $800.00 22.22% We wouldn’t do this play if we needed the margin but a nice $2,800 to collect if AMZN stays below $90 BAC CALL 10 Jan 11 $8.60 $7.50 5 $3,750.00 $0.00 -$550.00 -12.79% BAC CALL 17 Oct 09 $1.27 $0.43 -5 $215.00 $1,110.50 $420.00 66.14% BAC PUT 17 Oct 09 $0.97 $1.09 -5 $545.00 $1,770.50 -$60.00 -12.37% BAC PUT 20 Jan 11 $5.45 $6.30 5 $3,150.00 $0.00 $425.00 15.60% Drifting right around our $17 target is perfect.  If they get cheaper, we buy more! C CALL 4 Mar 10 $1.30 $1.09 10 $1,090.00 $0.00 -$210.00 -16.15% C PUT 4 Dec 09 $0.46 $0.32 -10 $320.00 $720.00 $140.00 30.43% C PUT 5 Oct 09 $0.52 $0.57 -5 $285.00 $624.00 -$25.00 -9.62% Very smart to sell more calls than puts!  We do want to sell 5 more puts for $1+ if we get a drop . CROX CALL 4 Mar 10 $3.70 $2.99 5 $1,495.00 $0.00 -$355.00 -19.19% CROX CALL 7 Oct 09 $0.50 $0.13 -5 $65.00 $112.75 $185.00 74.00% CROX PUT 7 Oct 09 $0.90 $0.80 -5 $400.00 $862.75 $50.00 11.11% A bit low - shame we never filled the long put or this would be perfect (same with C) .    Description   Price Paid Last Price Qty Market Value Margin  Req. Profit Loss % GE CALL 16 Oct 09 $1.29 $0.34 -20 $680.00 $4,008.00 $1,900.00 73.64% GE PUT 16 Oct 09 $0.88 $0.99 -10 $990.00 $3,294.00 -$110.00 -12.50% We need a .50 stop on the $16 calls and for .10 we buy them out this week.  We’re fine with GE put to us net $15.12 . LZB - Stock $9.21 $7.97 500 $3,985.00 $0.00 -$620.00 -13.46% LZB  CALL 7.5  Jan 10 $2.70 $1.40 -5 $700.00 $0.00 $650.00 48.15% LZB PUT 7.5 Jan 10 $1.15 $1.10 -5 $550.00 $925.00 $25.00 4.35% Right on target to get called away so no change . MHP PUT 25 Oct 09 $0.80 $1.25 -5 $625.00 $2,471.50 -$225.00 -56.25% We actually want this stock so not worried at all . PSQ CALL 50 Jan 10 $3.05 $2.50 10 $2,500.00 $0.00 -$545.00 -17.90% These are doing their…