One of the swing strategies that I focus on is my Fab 5 basket of stocks. A few of these positions have September options involved so I have been working my plan on exiting those pieces/trades as appropriate this week (before expiration).
One such position is in $DVA (Davita Inc). To illustrate the action this week, here is a 60 minute chart to review:
- I am long from an entry of $96.2 on 8/6/2012
- I put on a September 105/100 Collar for a $.40 credit on 9/5/2012
- This stock completed the $100 Roll on 9/7/2012
- I sold the stock at $99 on 9/19/2012 for a gain of $2.80. I was left with a September 105/100 Bear R/R
- I exercised the 100 Put on 9/20/2012 and covered the short stock at $97.90 for a gain of $2.10 on this piece.
- I remain short the September 105 Call & expect this to expire this weekend.