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Trade recommendations closed for April 2007 expiration.

1. IWM Double Diagonal initiated in 22 Feb 2007

22 Feb:: Initiate position for $0.12 debit
9 Apr: Close position for $0.39 credit

P&L: +$27 per entry
Percentage P&L: 27/212 = 12.74%

2. RUT Iron Condor initiated on 13 Mar 2007

13 Mar: Initiate position for $1.95 credit
13 Apr: Close position for $0.20 debit

P&L: $175 per position
Percentage P&L: 175/805 = 21.74%

Comment

Two of our iron condors for April were killed by the unexpected bullishness of the market. We rolled the condors into May in a bid to avoid suffering the maximum loss. We now have 6 open positions waiting to be closed in May.

We'll trade lightly in the coming weeks. We'll want to see a stablized market before we enter any new positions. May will be an interesting month.

Yours sincerely,

Gary

Founder, Head Trader of MarketNeutralOptions