February 2010 | Members

 

1:20pm (EST)

Imax (IMAX, $12.34, up $0.04) 

March 12.50 calls (IMQCV, $1.00, flat) (IMQ100320C000125)

Entry Price:  $1.25 (2/4/10)
Exit Target: $1.75   
Return:  -20%

Stop Target:  60 cents

Action:  Continue to hold.


Berkshire Hathaway Class B (BRK/B, $72.22, down $0.39)  

June 100 calls (BPYFT, $0.25, down $0.05)

Entry Price:  $0.50 (2/1/10)
Exit Target: $1.00+   
Return:  -50%

Stop Target: None   

September 100 calls (BPYIT, $0.45, flat)

Entry Price:  $0.95 (2/1/10)
Exit Target: $2.00   
Return: -53%
Stop Target: None   


Action:  Shares have briefly traded in the green but we like how the stock has held over $70 all week.

 

EMC (EMC, $16.65, up $0.02)

April 19 calls (EMCDS, $0.16, flat)

Entry Price:  $0.55 (1/19/10)
Exit Target:  $1.00+
Return: -70%
Stop Target:  None  

Action:  Continue to hold. 


Shuffle Master (SHFL, $8.92, down $0.03)

May 10 calls (SFQEB, $0.55, flat)

Entry Price:  $0.85 (1/19/10)
Exit Target:  $1.70+
Return: -35%
Stop Target:  40 cents

Action:  Continue to hold.     


WATCH LIST SECTION

These trade are NOT recommendations until we send out an alert or the limit prices are hit.  These are trades that we like but have not added to the portfolio as an official recommendation because of market conditions or because the portfolio is full.     


Apollo Group (APOL, $60.10, down $0.31)

February 55 puts (OAQ100220P00055000, $0.45, flat)

March 55 puts (OAQ100320P00055000, $1.40, up $0.05)

Action:  We would like to see shares of Apollo run back up to $64 before we do this trade.  They got to $61 so we will wait. 

 

Toyota (TM, $74.45, up $2.67)

February 75 puts (TMNO, $2.75, down $1.60) (TM100220P0007500)

March 70 puts (TMOW, $2.30, down $1.10) (TM100320P0007000)

Action:  This is why we told you to take profits yesterday and this morning.  We will be dropping coverage of this trade as we think shares could be range bound.


Amazon.com (AMZN, $116.20, up $0.26) 

February 110 put (QZNNB, $1.77, up $0.67) (QZN100220P001100)

March 100 puts (QZNOT, $1.82, up $0.57) (QZN100320P001000)

Action:  Shares hit a low of $114 this morning which provided an excellent opportunity to take profits of up to 75%.  We will drop coverage of this trade as well and we are hoping the stock makes a run back to $125 next week.  If so, we may look at these puts again.