June 2009 Results:

I was satisfied with the June contracts which I closed out early rather than let them expire. I chose to close them early since 2 of the 3 could be closed for .05. I would rather close the trade for .05 than run the risk, however unlikely, that some event would bring the market sharply down on the Thursday night prior to expiry and leave me unable to adjust the trade since expiry was on Friday morning market open. This would be the worst case scenario and closing the trade prior to expiry eliminates this risk. I also chose to close out the 1550 call because the market hadn't taken the turn down that I had been anticipating. I didn't want to risk having the trade turn into a large money looser, wiping out a good portion of my gains year to date - I have had that happen in the past when I traded bear call and put spreads (another reason I now trade naked index options). Going forward I will provide the monthly returns in spreadsheet format and hopefully soon will have past periods added as well.