RUT 500/510C May 09 @3.1 & 3.0 (5% and 10%)

5/12

Closed the trades at 2.65 for 5% and 10% gain. Turned out that the RUT closed below 500 on OXP week. Given that my position was taking heat during most of the life of the position, I was just glad to take the position off for a small gain. If I didn't I would have realized the full credit, but that is on hindsight.

4/20

The RUT fell 5.61% to 452.49. The GAP is almost filled. I'm going to exit at the 50% retracement.

4/16

SOLD VERTICAL RUT 100 MAY 09 500/510 CALL @3.10 ISE, RUT MARK 474.00

SOLD VERTICAL RUT 100 MAY 09 500/510 CALL @3.0 ISE, RUT MARK 474.00

Reason: Similar the 48P spread

Risk Management:

Loss exit: >48

Profit Exit: on the gap fill @442.3