Friday, April 18, 2008

Update on ISRG option trade

To get some practice trading earnings, I put on a trade on the simulator account yesterday.
I bought 100s ISRG, sold 1 ATM call strike 350, and bought 1 ATM put strike 350 which both expired today. I lost around $150 due to the crappy bid ask spread.

I sold the 100s of ISRG for a loss of -$4,121
Covered the call I Sold for $1,818
Sold the Put I bought for $2,098
Overall on this trade I lost $205, which is really breakeven when you subtract commissions, because I had to pay up due to the large Bid/Ask spread on this thinly traded stock.

I also sold 10 calls at the 400 strike which expired today.

I obtained the max profit of $3,243 on this trade.

Here's the P/L from the trades-


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