9:05am (EST)

Note:

May options expire in 7 days, June options expire in 35 days, July options expire in 63 days.


Moody’s (MCO, $21.62, down $0.67)

June 20 puts (MCO100619P00020000, $1.50, up $0.67)

Entry Price:  $0.80 (5/12/10) 

Exit Target: $1.60 

Return: 88%

Stop Target:  None

Action:  We may close half the trade today if we hit a 100% return but if we do we will send out an alert.  Depending on how the market acts, we may keep the entire trade open.    


eBay (EBAY, $22.68, up $0.17) 

June 21 puts (EBAY10061900021000, $0.45, down $0.05) 

Entry Price:  $0.48 (5/10/10) 

Exit Target: $1.00 

Return: -6%

Stop Target:  None

Action:  So much for the upgrade which ruined some of our momentum but eBay couldn’t hold its gains.  We aren’t sure what the broker is seeing to upgrade the stock because we think it’s going below $20.  Continue to hold.   


SanDisk (SNDK, $42.82, down $1.45)

July 34 puts (SWF100717P00034000, $1.20, up $0.20)

Entry Price:  $1.50 (5/10/10) 

Exit Target: $3.00

Return: -20%

Stop Target:  75 cents

Action:  T-I-M-B-E-R!  Continue to hold.


Apollo Group (APOL, $54.61, down $1.13)

June 50 puts (APOL100619P00050000, $1.50, up $0.20)

Entry Price:  $1.25 (5/5/10) 

Exit Target: $2.50

Return: 20%

Stop Target:  $1.00

Action:  Continue to hold.


Qualcomm (QCOM, $37.96, down $0.20)

June 36 puts (AAO100619P00036000, $0.80, up $0.10)

Entry Price:  $0.80 (4/28/10) 

Exit Target: $2.00+ (closed half at $1.80 on 5/7/2010) 

Return: 63%

Stop Target: $1.00

Action:  Continue to hold.  


Garmin (GRMN, $32.91, down $1.03) 

May 32 puts (GRMN100522P00032000, $0.60, up $0.10)

Entry Price:  $1.00 (4/5/10) 

Exit Target: $2.00+

Return: -40% 

Stop Target:  None

Action:  Garmin folded like a cheap lawn chair yesterday and our chart work is beginning to pay off.  We are still hoping for a drop to $30 or below by next week.


Other 2010 Portfolio OPEN positions (4):  These are trades that are still open in the portfolio that have longer expiration dates or are on “hold” but are not worth mentioning until they turn around.  Many of these trades This way you know we are still tracking them and we will record the results, accordingly, when we close them or they expire.  Click on the 2010 Portfolio link in the Members Area to view ALL open/ closed trades. 

A123 Systems, American Tower, Berkshire Hathaway Class B, Canadian Solar, JDS Uniphase.


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 or because we are waiting for better entry prices.  We will not list entry prices because these stocks are on the verge of breaking out or they could selloff.   

PowerShares (QQQQ, $47.85, down $0.77)

June 47 puts (QQQQ10061900047000, $1.15, up $0.20)

Action:  We may pull the trigger on one of these trades today
but we will send out an alert if we do.

 

Abercrombie & Fitch (ANF, $41.14, down $2.20)

June 40 puts (ANF100619P00040000, $2.10, up $0.80)

Action:  We got left in the dust on this one.  Abercrombie has so much potential but seems to drop the ball when it comes to business.  Love the clothes but this stock should be in the $30’s, if not $20’s.


Sony (SNE, $31.53, down $1.71)

June 32.50 puts (SNE100619P00032500, $2.00, up $0.55)

June 30 puts (SNE100619P00030000, $0.85, up $0.20)

Action:  For those of you in this trade, continue to hold as shares look poised to dip below $30.    


Expedia (EXPE, $23.50, down $0.08)

June 20 puts (EXPE100619P00020000, $0.25, flat) 

Action:  Like the Jefferson’s, we might be “moving on up”.  However, we may go with the June 22.50 puts (EXPE10061922500, $0.80, flat) which might get us more bang for our buck.  Please note we will send out an official Trade Alert if we add it to the portfolio though.


American International Group (AIG, $40.65, down $0.75)

June 35 puts (AIG100619P00035000, $1.55, up $0.25)

Action:  AIG looks headed below $40.


Freeport-McMoRan (FCX, $71.71, down $1.29)

June 65 puts (FCX100619P00065000, $1.70, up $0.20)

Action:  Continue to watch.


Spider Standard & Poor’s 500 (SPY, $115.99, down $1.46)

June 110 puts (SPY100619P00110000, $1.70, up $0.30) 

Action:  We may go with these instead of the QQQ’s.