XLE Position Update
XLE opened today up around 7%. The October 71 Calls were sold at $3.65, originally bought for $1.26, returning 190% in 1 day. Ares Trading has decided to take profits off the table in the current volatile market. Ares Trading is now formulating its next trading opportunity.
| Ares Trading | |||||||
| October 2008 Open Positions Unrealized Profit/Loss | |||||||
| Total Invested: | $322 | ||||||
| Total Return: | $525 | ||||||
| Unrealized Profit: | $203 | ||||||
| Unrealized Profit %: | 63.04% | ||||||
| Total Positions: | 2 | ||||||
| Average Days Held: | Open | ||||||
| Date | Qty | Company | Contract | Strike | Expiration | Price | Cost Basis |
| 9/17/2008 | 2 | WFMI | Put | 18 | October 08 | $0.98 | $196 |
| 9/18/2008 | 2 | WFMI | Put | 18 | October 08 | $0.80 | $160 |
| Days | 1 | Profit % | -18.37% | Profit | ($36) | ||
| 9/18/2008 | 1 | XLE | Put | 71 | October 08 | $1.26 | $126 |
| 9/19/2008 | 1 | XLE | Put | 71 | October 08 | $3.65 | $365 |
| Days | 1 | Profit % | 189.68% | Profit | $239 | ||
