CURRENT TRADES Pepsico (PEP, $60.85, down $0.05) Nov 62.50 calls (PEPKZ, $1.15, down $0.10) Entry Price: $1.15 (10/5/09) Exit Target: $2.40 Return: 0% Stop: 55 cents Action: Pepsico OPENED lower which I said was one of the thins]gs we were watching. The stock bounced a little in the first 10-15 minutes but continued lower until lunch. The calls traded to a low of 95 cents and many of you may have gotten in even lower than the $1.15-$1.20 limit prices that were set if the stock opened lower. Abercrombie & Fitch (ANF, $30.60, down $0.02) November 30 puts (ANFWD, $2.15, down $0.10) Entry Price: $1.50 (10/1/09) Exit Target: $3.00 Return: 43% Stop: $1.60, raise to $1.90 Action: The put options traded to a high of $2.40 yesterday when the shares touched a low of $30.01. That is exactly where the support came in and it amazing how they $30 level held by 2 pennies. We are targeting $27 but I didn’t like the way the stock traded. We can’t ignore the bounce of $30 and I still think somewhere down the road ANF is going to be in the $20’s but we have to protect our profits. The puts traded to a low of $2.10 and I have raised the stop to $1.90. Citigroup (C, $4.67, up$0.15) January 7.50 calls (CAQ, $0.11, flat) Entry Price: $0.32 (8/28/09) Exit Target: $0.64 Return: -66% Stop: None January (2011) 10 calls (VRNAB, $0.41, up $0.01) Entry Price: $0.60 (8/28/09) Exit Target: $1.20 Return: -32% Stop: None Action: Continue to hold. Imax (IMAX, $9.67, up $0.32) March 2010 12.50 calls (IMQCV, $0.45, up $0.05) Entry Price: $0.45 (8/10/09) Exit Target: $1.00+ Return: 0% Stop: None Action: Continue to hold.]]>
