May 2010 | Members

 

1:00pm (EST)

eBay (EBAY, $22.66, up $0.33) 

June 21 puts (EBAY10061900021000, $0.50, down $0.11) 

Entry Price:  $0.48 (5/10/10)   

Exit Target: $1.00 

Return: 4%

Stop Target:  None

Action:  For those of you who missed yesterday’s entry prices here’s your chance to get into the trade.  Remember, we expect a 100% return for all of our trades so sometimes if you have to pay a few nickels more for a position then it is probably okay to pull the trigger.  


SanDisk (SNDK, $42.68, up $1.14)

July 34 puts (SWF100717P00034000, $1.45, down $0.10)

Entry Price:  $1.50 (5/10/10) 

Exit Target: $3.00

Return: -3%

Stop Target:  75 cents

Action:  Continue to hold.


Apollo Group (APOL, $54.39, down $0.85)

June 50 puts (APOL100619P00050000, $1.60, up $0.10)

Entry Price:  $1.25 (5/5/10) 

Exit Target: $2.50

Return: 28%

Stop Target:  $1.00

Action:  Continue to hold.


Qualcomm (QCOM, $37.70, up $0.33)

June 36 puts (AAO100619P00036000, $1.00, down $0.20)

Entry Price:  $0.80 (4/28/10) 

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

Return: 75%

Stop Target: $1.00

Action:  We have already locked in solid gains on half and we still think Qualcomm heads below $35 so we are going to hold the other half open.  We are right on our stop target but we are going to give this one a little wiggle room.   


Garmin (GRMN, $35.13, down $0.47) 

May 32 puts (GRMN100522P00032000, $0.40, up $0.10)

Entry Price:  $1.00 (4/5/10) 

Exit Target: $2.00+

Return: -60% 

Stop Target:  None

Action:  Continue to hold.


TiVo (TIVO, $17.03, up $0.54)

May 20 calls (TUK100522C00020000, $0.40, flat)

Entry Price:  $0.85 (3/5/10)  

Exit Target: $1.70 

Return: -53% 

Stop Target: None 

Action:  We may have to roll this position out but this trade is tied to pending litigation news which could come out any day or next week or next month.  The calls are still $3 out-of-the-money and expire in 10 days so we are really pushing it but let’s see how it goes for another day or two. 


Other 2010 Portfolio OPEN positions (5):  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.  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, Shuffle Master, 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.   


Moody’s (MCO, $22.20, up $0.43)

June 20 puts (MCO100619P00020000, $0.90, down $0.25)

Action:  We would like to get these options for under 75 cents but we are so tempted to pull the trigger here.


American International Group (AIG, $42.99, up $2.01)

June 35 puts (AIG100619P00035000, $1.60, down $0.20)

Action:  We would love to get these options for $1.25 or less and we will send out a Trade Alert if we decide to take the trade sooner.


Freeport -McMoRan (FCX, $71.75, down $0.75)

June 65 puts (FCX100619P00065000, $1.95, up $0.15)

Action:  Watch for now.