I blew out the positions in CBL @ $6.05, MAC @ $16.43, and BXP @ $45.92, for gains of 128.30%, 98.43%, and 23.71%, respectively.
I am done with the hedged REIT strategy for now.
Still holding on to SRS with at $34.19 basis. I fully expect to recoup those losses in the near future.
Good day to you.
UPDATE: Current positions in REITs and the results of the strategy, inception 03/10/09:
| Ticker | Shares | Cost Basis/Sh | Cost | LAST | Total Position (FMV) | % ▲ Gain (Loss) | %CHG TODAY | |
| SRS | 20,000 | $34.19 | $683,729 | $24.56 | $491,200 | (28.16) | 13.81 | |
| $683,729 | $491,200 | (28.16) | 13.81 | |||||
| Long | $0 | $0 | ||||||
| Short (effective) | $683,729 | $982,400 | ||||||
| Net effective long(short) | ($982,400) | |||||||
| Previously Sold: | ||||||||
| MAC | 40,000 | $8.28 | $331,200 | $16.43 | $657,200 | 98.43 | 05/13/09 | |
| CBL | 90,000 | $2.65 | $238,500 | $6.05 | $544,500 | 128.30 | 05/13/09 | |
| BXP | 10,000 | $37.12 | $371,200 | $45.92 | $459,200 | 23.71 | 05/13/09 | |
| SRS | 10,000 | $34.19 | $341,900 | $20.59 | $205,900 | -39.78% | 05/08/09 | |
| KIM | 93,000 | $7.55 | $702,150 | $9.05 | $841,650 | 19.87% | 04/06/09 | |
| CBL | 87,100 | $2.65 | $230,815 | $6.56 | $571,472 | 147.59% | 04/17/09 | |
| MAC | 40,000 | $8.28 | $331,200 | $15.39 | $615,600 | 85.87 | 04/27/09 | |
| CBL | 90,000 | $2.65 | $238,500 | $7.15 | $643,500 | 169.81 | 04/27/09 | |
| BXP | 8,900 | $37.12 | $330,368 | $47.97 | $426,933 | 29.23 | 04/27/09 | |
| SRS | 28,000 | $34.19 | $957,221 | $26.51 | $742,280 | (22.45) | 04/27/09 | |
| $4,073,054 | $5,708,235 | |||||||
| $1,635,181 | 40.15% | |||||||
