UPON THE OPEN TODAY WITHIN THE FIRST 15 MINUTES WE PLACED AN SPX STRADDLE SPREAD ORDER AT 3.50 DEBIT.

THE STRADDLE SPREAD WAS A COMBINED 4 LEG AT THE CURRENT SPX LEVEL TRADE. SPX WAS AROUND 1417. WE OPENED BOTH 1420/15 DEC7 DEBIT PUT AND 1420/25 DEBIT CALL SPREADS IN ONE TRANSACTION AT SAID 3.50 DEBIT.

THIS STRADDLE SPREAD WAS 5 WIDE ON EACH END. FULL PROFITS OF 1.50 EACH CONTRACT LOT (5-3.50 = 1.50)WOULD HAVE BEEN REACHED HAD WE HELD TO EXPIRY AND SPX LESS THAN 1415 OR GREATER THAN 1425.

WE DECIDED TO TAKE OUR 20% GAIN FROM 3.50 DEBIT TO SELLING BACK AT 4.20 CREDIT TWO HOURS LATER AROUND 1145AM EST, AND LOCKED IN OUR 20% DAILY GAIN.

SPXW Put SPXW Dec 07 2012 1415.00 Put Debit $3.50 3/ 3/ 3/ 3
Order
Initial Original Stop Final Stop Low/High N/A Time N/A Triggered At

Executed @ $3.50

SPXW Put SPXW Dec 07 2012 1415.00 Put SLD to Open 3
SPXW Put SPXW Dec 07 2012 1420.00 Put BOT to Open 3
SPXW Call SPXW Dec 07 2012 1420.00 Call BOT to Open 3
SPXW Call SPXW Dec 07 2012 1425.00 Call SLD to Open 3

FF

SPXW Put SPXW Dec 07 2012 1415.00 Put Credit $4.20 3/ 3/ 3/ 3
Order
Initial Original Stop Final Stop Low/High N/A Time N/A Triggered At

Executed @ $4.20

SPXW Put SPXW Dec 07 2012 1415.00 Put Change BOT to Close 3
SPXW Put SPXW Dec 07 2012 1420.00 Put Change SLD to Close 3
SPXW Call SPXW Dec 07 2012 1420.00 Call Change SLD to Close 3
SPXW Call SPXW Dec 07 2012 1425.00 Call Change BOT to Close 3
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