9:05am (EST)

DreamWorks Animation (DWA, $42.36, down $0.63)

May 45 calls (DWA100522C00045000, $0.85, down $0.15)

Entry Price:  $0.90 (4/26/10) 

Exit Target: Closed at $1.10 (4/27/10)

Return: 22%

Stop Target:  None

Action:   We wanted to update this trade for those of you who may have rolled the dice with this one.  We closed out for a slight profit and wanted to reduce some of the risk in the portfolio given yesterday’s market action.

DreamWorks traded higher in after-hours and was last seen at $42.80, up $0.44.  These options have 23 days before they expire.


Dendreon (DNDN, $40.04, down $1.15)

May 55 calls (DNDN100522C00055000, $1.05, down $0.15)

Entry Price:  $1.50 (4/26/10) 

Exit Target: $2.00+

Return: -30%

Stop Target:  None

Action:  Shares of Dendreon are higher in pre-market trading and are near $41.

 

Akamai Technologies (AKAM, $33.70, down $0.97)

May 36 calls (AKAM100522C00036000, $0.80, down $0.25)

Entry Price:  $0.92 (4/14/10) 

Exit Target: $2.00+

Return: -13%

Stop Target:  50 cents

Action:  Akamai will report earnings AFTER the bell today. 

   

 JDS Uniphase (JDSU, $13.21, down $0.60)

May 14 calls (UQD100522C00014000, $0.50, down $0.20)

Entry Price:  $0.75 (4/12/10) 

Exit Target: $1.50+

Return: -33%

Stop Target:  None

Action:  Continue to hold.  The company reports earnings on May 5. 

 

Corning (GLW, $20.12, down $0.80)

August 22 calls (GLW100821C00022000, $0.80, down $0.25)

Entry Price:  $0.60 (4/12/10) 

Exit Target: $1.20+ (closed half on 4/27 @ $1.00)

Return: 50% 

Stop Target:  None

Action:  Corning reported great earnings which we will cover later today and shares are up to $20.40 in early action.  The options still have 115 days before they expire.

 

Garmin (GRMN, $38.15, up $0.45)

May 32 puts (GRMN100522P00032000, $0.35, flat)

Entry Price:  $1.00 (4/5/10) 

Exit Target: $2.00+

Return: -65% 

Stop Target:  None

Action:  The puts held the bid/ask despite the fact shares were up yesterday.  Garmin will report earnings on May 5.


American Tower (AMT, $41.14, down $0.72)

May 45 calls (AMT100522C00045000, $0.15, down $0.10)

Entry Price:  $0.60 (3/29/10) 

Exit Target: $1.30+ 

Return: -75% 

Stop Target:  None

Action:  We will be dropping coverage of this trade but it will still be open in the portfolio.  After an initial pop when we first initiated coverage, this trade has done nothing for over a month and we will know our fate next week when the company announces earnings.


TiVo (TIVO, $17.74, down $0.79)

May 20 calls (TUK100522C00020000, $0.65, down $0.20)

Entry Price:  $0.85 (3/5/10)  

Exit Target: $1.70 

Return: -24% 

Stop Target: None 

Action:  Continue to hold.


Other 2010 Portfolio OPEN positions (3):  These are trades that are still open in the portfolio that have longer expiration dates but are not worth mentioning until they turn around.  This way you know we are still tracking them and we will record the results, accordingly.  Click on the 2010 Portfolio link in the Members Area to view ALL open/ closed trades. 

Berkshire Hathaway Class B (BRK/B, $76.69 down $2.55), Canadian Solar (CSIQ, $16.84, down $1.10) and Shuffle Master (SHFL, $8.75, down $0.14).


WATCH LIST SECTION

These trades are NOT recommendations until we send out an alert.  These are trades that we like but have not added to the portfolio as an official recommendation because of market conditions.  We will not list entry prices because these stocks are on the verge of breaking out or they could selloff.  


Qualcomm (QCOM, $37.92, down $0.19)

June 35 puts (QAQ100619P00035000, $0.64, up $0.12)

Action:  Qualcomm recently reported disappointing earnings and shares dropped from $42 to $39 after they offered up a weak outlook.  The 1-year chart shows support for Qualcomm at $35 but a break below those levels could lead to a test of $30.

Shares broke through their 10,20,50, and 100-day moving averages on the sell-off and resistance is now at $40. 

 

Broadcom (BRCM, $34.82, down $1.21)

June 32 puts (BRCM100619P00032000, $0.84, up $0.23)

Action:  Watch for now.


Goldman Sachs (GS, $153.04, up $1.01)

May 130 puts (GS100522P00013000, $1.00, down $0.08)

Action:  Goldman traded to a low of $150.15 and we are targeting a drop below that level as a possible entry point.  However, it’s still too early to say what comes out of all of this “financial reform”.


A123 Systems (AONE, $12.97, down $0.01)

September 15 calls (AONE100918C00015000, $0.90, down $0.10)

Action:  Continue to watch.


Toyota Motor (TM, $76.99, down $1.83)

May 75 puts (TM100522P00075000, $1.25, up $0.55) 

Action:  Continue to watch.


Massey Energy (MEE, $41.36, down $2.25)

May 40 put (MQO100522P00040000, $1.65, up $0.85)

June 40 puts (MQO10061900045000, $2.55, up $0.95)

Action:  The May options opened at $1.06 and doubled from Monday’s close.  We have also added the June puts which we would like to get if shares rally back to $43-$44.   A break below $40 will lead to a test of $38 and if that level fails then shares could be headed to $35.