Here are a few call options I’m watching. I have listed the options from March but we will probably not do anymore trades with the March contracts. The market is in the process of making new lows or is bottoming here at these levels.

I’m not sure how the rest of the week plays out but I’ve listed the difference in the March call options after Monday’s sell-off. We are still waiting on the sidelines but these are the April options I’m looking at if the market can get a significant bounce.

IBM (IBM, $87.89, down $1.20) on Tuesday 3/3 at 1:30PM

March 100 calls (IBMCT, $0.25, down $0.20) — Friday’s close, 80 cents
April 100 calls (IBMDT, $1.10, down $0.50)

Potash (POT, $77.15, up $2.51)

March 100 calls ($0.85, up $0.11) — Friday’s close, $1.75, high of $2.50
April 100 calls (PYPDT, $2.60, up $0.45)

Exxon Mobil (XOM, $64.84, down $0.10)

March 75 calls (XOMCO, $0.18, down $0.07) — Friday’s close, 50 cents
April 75 calls (XOMDO, $0.80, down $0.10)

Again, the April contracts are the only ones on my watch list, ignore the March contracts. We have to wait and see how the next few days shake out.

Rick Rouse