10:00am (EST)

Ford (F, $8.12, down $0.21)

December 6 calls (FLI, $2.50, down $0.18)

Entry Price: $1.25 (5/18/09)
Exit Price: $2.50
Return: 100%
Stop: $2.00

December 7 calls (FLJ, $1.87, down $0.13)

Entry Price: $1.00 (5/18/09)
Exit Price: $2.00
Return: 87%
Stop: $1.30, raise to $1.60

August 7 calls (FHJ, $1.27, down $0.15)

Entry Price: $0.77 (7/31/09)
Exit Price: $1.55
Return: 50%
Stop: $1.25

Action: We want to see Ford continue to hold $8 but with the “cash for clunkers” theme that has been driving this one higher could be wearing off.

Cisco Systems (CSCO, $22.27, udown $0.30)

October 20 calls (CYQJD, $2.75, down $0.22)

Entry Price: $1.50 (6/2/09)
Exit Price: $3.00
Return: 88%
Stop: $2.25

Action: Close half of the position TODAY. Cisco reports earnings on Wednesday and we want to protect our profits going into the announcement.

Bank of America (BAC, $15.08, down $0.24)

November 15 calls (BYOKO, $1.78, down $0.12)

Entry Price: $1.50 (6/12/09)
Exit Price: $2.25
Return: 14%
Stop: $1.30, raise to $1.60

August 15 calls (BYOHO, $0.71, down $0.10)

Entry Price: $0.32 (7/31/09)
Exit Price: $0.94
Return: 194%
Stop: CLOSED

Action: We got out of the August calls yesterday and if you will notice I raised the stop on the November 15’s.

IBM (IBM, $119.16, down $0.76)

August 105 calls (IBMHA, $14.45, down $0.35)

Entry Price: $3.40 (7/14/09)
Exit Price: $12.00 (7/24/09 1/2 the trade was closed)
Return: 335%
Stop: $12.75, raise to $14.00

August 115 calls (IBMHC, $4.90, down $0.38)

Entry Price: $1.05 (7/16/09)
Exit Price: $2.00 (7/24/09 1/2 the trade was closed, other half sold at $3.25 on 7/29)
Return: 245% together
Stop: CLOSED

Action: IBM is still having trouble with $120.

Cerner (CERN, $65.19, down $1.08)

August 70 calls (CQNHN, $0.65, down $0.05)

Entry Price: $1.30 (7/27/09)
Exit Price: $2.20
Return: -50%
Stop: 50 cents

Action: We are just riding this one out…

Visa (V, $69.11, up $3.65)

August 70 calls (VEHHN, $1.00, down $0.40)

Entry Price: $1.60 (7/27/09)
Exit Price: $3.20
Return: -40%
Stop: Lifted

Action: Visa made a run at $70 yesterday but this area is providing strong resistance.

Sorry for the late update, folks. I wanted to see where we opened this morning before doing the first post.