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Trade recommendations closed for February 2007 expiration.

1. SPY Double Diagonal initiated on 28 Nov 2007

28 Nov:: Initiate position for $0.25 debit
19 Dec: Roll recommendation for $1.75 credit
12 Feb: Close position for $1.35 debit

P&L: +$15 per entry
Percentage P&L: 15/225 = 6.67%

2. IWM Iron Condor initiated on 4 Jan 2007

4 Jan: Initiate position for $0.95 credit
16 Feb: Close call spread for $0.55 credit

P&L: +$40 per position
Percentage P&L: 40/105 = 38.10%

3. SPY Iron Condor initiated on 4 Jan 2007

4 Jan : Initiate position for $0.95 credit
12 Feb: Close position for $0.50 credit

P&L: +$45per position

Percentage P&L: 45/105 = 42.86%

4. RUT Iron Condor initiated on 12 Jan 2007

12 Jan: Initiate position for $2.40 credit
9 Feb: Close position for $0.35 debit

P&L: +$205 per position

Percentage P&L: 205/760 = 26.97%

Comment

The market rallied strongly for Feb and as a result we have a few of our positions ITM for a while. Patience paid off this time. One very good example would be the IWM IC initiated on 4 Jan: waiting for a day longer makes a difference between a profit and a loss. We only have 3 positions for March. Partly because we trade lightly when the market is indecisive. We'll take an eye on these entries and advise you accordingly when it is time to close up the trades. Have a wonderful extended weekend! And to all Chinese subscribers out there, Happy Lunar New Year and Gong Xi Fa Cai!

Yours sincerely,

Gary

Founder, Head Trader of MarketNeutralOptions