9:00am (EST)

CBOE Holdings (CBOE, $24.73, down $0.19)

December 25 calls (CBOE101218C00025000, $0.90, down $0.05)

Entry Price:  $0.75 (11/8/10)

Exit Target: $2.40+

Return: 20%

Stop Target: None

Action:  Continue to hold.

 

Juniper Networks (JNPR, $34.55, up $0.35)

December 35 calls (JNPR101218C00035000, $1.25, up $0.15)

Entry Price:  $1.05 (11/8/10)

Exit Target: $2.10+

Return: 19%

Stop Target: None

Action:  This position will take a hit on the Cisco news.  We normally don’t do “rollover” trades but this stock was looking so good even going into yesterday’s close.  We added the December calls on Monday and shares traded to a high of $34.58 yesterday and would have pushed their 52-week high of $34.94 had the closing bell not sounded. 

We made a profit on the November calls which will offset some of the losses from this trade but the good news is these options have over a month to rebound and Juniper passed Wall Street’s earnings test in October.

This won’t help today, of course, as shares fell 9% in after-hours last night to under $32.

 

Darden Restaurants (DRI, $48.22, up $0.85)

December 49 calls (DRI101218C00049000, $1.30, up $0.20)

Entry Price:  $1.20 (11/8/10)

Exit Target: $2.40+

Return: 8%

Stop Target: 60 cents

Action:  We are looking for Darden to make a push above $50 over the next 6 weeks.

 

Aruba Networks (ARUN, $23.62, up $0.92)

January (2011) 25 calls (ARUN110122C00025000, $1.60, up $0.40)

Entry Price:  $1.20 (11/2/10)

Exit Target: $2.40+

Return: 33%

Stop Target: 90 cents

Action:  Continue to hold.


PowerShares QQQ (QQQQ, $53.72, up $0.26)

January 53 calls (QQQQ110122C00053000, $2.05, up $0.05) 

Entry Price:  $1.54 (10/27/10)

Exit Target: $3.00+

Return: 33%

Stop Target: $1.50

Action:  Continue to hold. 

 

American Tower (AMT, $53.11, up $0.92) 

April (2011) 60 calls (AMT110416C00060000, $1.00, up $0.15)

Entry Price:  $0.65 (10/20/10)

Exit Target: $1.30+

Return: 54%

Stop Target: None

Action:  Continue to hold.


Chesapeake Energy (CHK, $23.41, up $0.35)

January (2011) 25 calls (CHK110122C00025000, $0.70, up $0.10)

Entry Price:  $1.15 (10/13/10)

Exit Target: $2.30

Return: -39%

Stop Target: None

Action:  Continue to hold.     


Dendreon (DNDN, $34.83, up $0.99) (COVERED CALL)

Entry Price:  $41.96 (9/13/10) sold October 45 call @ $1.30
Exit Target: $45
Return: -14%
Stop Target: None

Action:  Shares were up over $2 in after-hours last night and the gains have held going into today’s open.

Dendreon opened at $41.96 and you could have sold the October 45 call option for $1.30 on 9/13/10.  This lowered the cost basis to $40.66.  We are looking to sell another call option but we may BUY longer-term call options if the stock trades down to $30 and holds.


TiVo (TIVO, $9.53, down $0.07)

November 12 calls (TIVO101120C00012000, $0.10, flat)

Entry Price:  $0.50 (8/17/10)
Exit Target: $1.00+
Return: -80%
Stop Target: None

Action:  A few analysts are saying yesterday’s pullback is a buying opportunity and we would agree but we only have until next Friday for the shares to move up to $12.50 for us to breakeven on this trade.


Other 2010 Portfolio OPEN positions (2):  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.  We are still keeping track of the trade and we will record the results, accordingly, when we close them or the options expire.  Click on the 2010 Portfolio link in the Members Area to view ALL open/ closed trades. 

Intel November 18 puts (strangle trade from October) 

Biodel March 7.50 calls (from October) 


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 sell-off. 


JDS Uniphase (JDSU, $11.77, up $0.17)

March 13 calls (JDSU110319C00013000, $0.83, up $0.08)

Action:  We have played JDSU once this year and we didn’t have much luck with it.  However, shares are cheap and the company is turning itself around.  Watch for now. 


3M Company (MMM, $86.25, up $0.95)

December 90 calls (MMM101218C00090000, $0.60, up $0.10)

April 95 call (MMM110416C00095000, $1.30, up $0.10) 

Action:  Continue to watch. 


BMC Software (BMC, $46.01, flat)

December 50 calls (BMC101218C00050000, $0.90, flat)

Action:  BMC continues to be a rumored buyout target.  


Riverbed Technology (RVBD, $29.65, up $0.77)

December 35 calls (RVBD101120C00060000, $0.50, up $0.10)

Action:  Watch for now.

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