FSLR Calls

Since it's option expiration week, I'd normally be trading a lot more, but since I've been busy with non-trading work, I haven't had much of a chance. This morning(or afternoon if you're on the east coast) I sold some FSLR calls at the $125 strike though. Normally I would turn this into a spread by buying some $135 or $140 calls as well, but the volume and pricing wasn't there today. These sort of trades are my bread-and-butter. Less than two days until the options expire and the stock would have to rise by almost $7 in that time for me to lose money. FSLR is one of my favorite shorts, and when it gets up closer to $150 a share I'll sell longer term calls. At under $120 though, it's got too much potential to shoot up if it catches a bid.

• Sell to Open: 3 FSLR Jun 18 2011 125.0 Call @ $0.11

I'll keep an eye out and see if I find any other quick trades for the week as well. Since I haven't done any screening/tech analysis on possible trades yet though, they'll probably won't be many worth the risk.

The Numbers

• Cash: + $33
• Short Option: -$42
• Margin: -$5100

Expired!