Following are the activity from the previous month:
a)
Closed the following longs: None.
b)
Increased the following longs: None.
c)
Long Calls: None.
d)
Long Puts: Direxion Daily Tech Bull 3X (TYH) shares
(Apr 2012 56) position at $4.3 initiated on 02/27/2012 with ~0.2% of total
portfolio value expired worthless as tech shares continued to outperform the
rest of the market. The position resulted in a realized short-term loss of
0.27% compared to the overall portfolio value.
e)
Shorts: None.
f)
Short Calls: None.
g)
Short Puts: Applied Materials (AMAT) shares (Apr 2012
10) position at $0.96 initiated on 08/22/2011 with a cash-coverage requirement
of ~1.5% expired worthless. The position resulted in a realized short-term gain
of 0.15% compared to the overall portfolio value
The cash position in our portfolio is at 31.54%.
Long/Short Portfolio
Update:
The overall portfolio is 1.04% ahead compared to our
cost-basis.
2012 Transactions
Summary:
Excluding dividends, we have a realized gain of 7.79% in the
portfolio YTD.
Option Position
Updates:
Short Puts: Click
Software (CKSW) shares (May 2012 7.5) with a cash coverage requirement of about
5% of our cash position.
Short Calls:
Diebold (DBD May 2012 35 at $3.40), Itron (ITRI Aug 2012 40 at $4.20), Nucor
(NUE July 2012 43 at $2.90), Alcoa (AA Jan 2013 12.5 at $0.64), Quality Systems
(QSII Sep 2012 45 at $2.70), Market Vectors Gold Miners ETF (GDX Jan 2013 59 at
$6), and Dryships (DRYS Jan 2013 2.5 at $0.65). The short calls account for
~10% of the portfolio.
Watch List:
Automatic Data Processing (ADP), Amgen (AMGN), Air Products & Chemicals
(APD), Beam Inc (BEAM), Bemis Company (BMS), Canon (CAJ), Canadian National
Railway (CNI), Cresud (CRESY), Darden’s Restaurants (DRI), Dell Inc (DELL), Emerson
Electric (EMR), Kaman Corporation (KAMN), Coca Cola (KO), McGraw Hill (MHP), 3M
Company (MMM), PepsiCo (PEP), State Auto Financial (STFC), Teva Pharmaceuticals
(TEVA), and Whirlpool (WHR).
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