| Entry | Ticker | Position | Paid | Exit | Sold | G/L |
| 5/2 | OEB QS | May 595-P | 4.90 | 5/3 | 5.00 | +$100 |
| 5/4 | OEY QT | May 600-P | 6.10 | 5/4 | 6.30 | +$200 |
| 5/5 | OEY RT | Jun 600-P | 6.90 | 5/10 | 6.20 | -$700 |
| 5/15 | OEB RR | Jun 590-P | 7.50 | 5/15 | 8.40 | +$900 |
| 5/22 | OEB FP | Jun 580-C | 7.70 | 5/22 | 8.20 | +$500 |
| 5/24 | OEB RO | Jun 575-P | 7.00 | 5/24 | 8.00 | +$1,000 |
| 5/30 | OEB FQ | Jun 585-C | 5.90 | 5/31 | 5.10 | -$800 |
| | | | | | | |
| | |
| Total
Gain per 10 contracts: | $1,060 |
| Percent
Gain from $8,000: | +13% |
HYPOTHETICAL PERFORMANCE
RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO
REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS
OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES
BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED
BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE
RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN
ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL
TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL
TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR
TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO
ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED
TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM
WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE
RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.