Closed Trade

Stock Symbol: SPY

Trade initiated: Aug 23rd
Price at time of trade: $107.61
Target price: 102 to 111 range
Price at trade close: $106.86
Price change: 0.70%
Our return: +2.62%

Strategy: Iron Condor using weekly options which expired on 8/27/10
Risk: lower
Reward: limited

Synopsis: As expected, the S&P 500 remained within the 1020 and 1111 range this week. After commissions, this trade has netted us a 2.62% gain in just one week. Not a very sexy trade but if we can do a trade like this once a week, that's a 10.5% monthly return which is over our stated monthly return goal of 5 - 8%.

Trade Details:[private_monthly]

BTO 10 SPY AUG10 100 PUT $0.06 $60.00
STO -10 SPY AUG10 102 PUT $0.11 ($110.00)
BTO -10 SPY AUG10 111 CALL $0.08 ($80.00)
STO 10 SPY AUG10 113 CALL $0.03 $30.00

Cost/Proceeds ($100.00)
Option Requirement $2,000.00
Total Requirements $1,900.00
Estimated Commission $50.00

Net Proceeds = $50 for a 2.62% gain.
[/private_monthly]

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