Trade Adjustments & Closes: DIA, FSLR, SPY, XLI

TRADE CLOSE – WIN
Ticker: DIA

With only a few days left before expiration, let’s close this position.  We took in 1.06 to open the trade and another 0.23 when we rolled the puts.  That’s 1.29 total in credit.

Order: Close existing position for a debit of around 0.45 – 0.50
BTC 15 SEP 352 call
STC 15 SEP 355 call
BTC 15 SEP 343 put
STC 15 SEP 340 put

Contracts: 2

TRADE CLOSE – WIN
Ticker: SPY

We adjusted our SPY position and have profits now.  We initially took in 2.06 in credit and another 0.40 when we rolled the puts, putting our total credit at 2.46.

Order: Close existing position for a debit of around 2.12 – 2.15
BTC 15 SEP 448 call
STC 15 SEP 453 call
BTC 15 SEP 441 put
STC 15 SEP 436 put

Contracts: 1

TRADE ROLL
Ticker: FSLR

With a few days before expiration, we need to do something more with our position.  We initially took in 1.75 in credit and another 1.11 when we added the call spread for a total of 2.86 in credit.  You can close the position for a debit of around 4.15 or a position loss of 1.29 per contract.  You can close the trade, but I’ll roll it out for a month.  Rolling will add another 0.40 of credit to our position. 

Order 1: Roll the call spread for a credit of around 1.04
STO 20 OCT 190 call
BTO 20 OCT 195 call
BTC 15 SEP 190 call
BTC 15 SEP 195 call

Order 2: Roll the put spread for a debit of around 0.60
STO 20 OCT 190 put
BTO 20 OCT 185 put
BTC 15 SEP 190 put
BTC 15 SEP 185 put

Contracts: 1

TRADE ROLL
Ticker: XLI

The short-dated call that we sold is nearly at 100% profit, so there’s no need to keep it anymore.  Let’s roll it out in time and down a strike.  We bought the diagonal for 3.31 and rolled the short-dated option twice (I was filled for 0.34 both times), leaving us with a cost basis of 2.63.

Order: Roll the short-dated call for a credit of around 0.13
BTC 15 SEP 108.50 call
STO 22 SEP 108 call

Contracts: 1