Today I uncovered my SPY call. I did so by buying an identical March SPY call to close my outstanding position. Specifically I bought a SPY MAR 2010 $100 call option for $1465. I placed a limit order bid of $14.65 while the ask was $14.75 and the other bids were $14.60. (Note that quoted value $14.65 is the price per share of stock. One standardized option is the right to purchase 100 shares. Thus the total price of the option contract is 100x the quoted price, or $1465.)
So far this trade looks decent with the bid/ask closing at $14.80/$14.95.
At the end of the trading day the Crazy Ivan Account is worth $22,212.
Balhiser.com 