Out of NETL

Gonna go ahead and close out the NETL arbitrage trade this morning for a nickel. This option didn't expire until April, so there was no point in tying up the margin for an extra $5.

• Buy to Close: 1 NETL Apr 21 2012 49.0 Puts @ $0.05

This trade produced nearly 15% on margin in just 4.5 months.

The Numbers

• Cash: -$5
• Short Option: +$5
• Margin: +$1000

Gold Update
My DGP gold position has been flirting with it's trailing stop the last couple days. If we don't get a bounce this afternoon or tomorrow it will likely break it's trailing stop(currently $56.53) and I will close the position.