I am about eight months into my subscription and given recent events with the WXYZ-Stock synthetic ownership I thought I’d let others know what just happened. After setting up the position exactly as you specified, (1/14) $50 synthetic with (8/12) $60 short calls, I found myself traveling when the call to roll went out. I thought I had given myself plenty of time to put in the roll order but my $60′s got assigned before it could execute. I was nervous when my imagined ‘worst case’ happened. I did not want to be short WXYZ so I ended up assigning my $50′s (with all their time value) and closing out my position entirely.
My ‘mistake’ ended up netting me close to $6000. I think the real point here is the experience gained. For even had I read about synthetic calls, there is no way I would have had the courage to make a trade like that were it not for the newsletter. I still cannot keep all the ramifications straight with synthetic calls or other option plays but having the instruction to properly set up the play with extra hedges in place really saved me. I will continue with the subscription in December as I have learned too much to stop now. And I will be more confident in placing a synthetic $50, short $60 on Monday.
Thanks for the advice and experience.Member since December”