9:00am (EST) 

JDS Uniphase (JDSU, $12.03, up $0.14)

March 12 calls (JDSU110319C00012000, $1.25, up $0.05)

Entry Price:  $1.25 (11/19/10)

Exit Target: $2.50

Return: 0%

Stop Target: 60 cents

Action:  We normally don’t open new trades on Friday but we were feeling “bullish”.  Shares hit a high of $12.15 which is resistance from September.  A break above this level clears an easy run to $12.50 and from there a setup for a run to $14 is in the cards.

 

Juniper Networks (JNPR, $34.73, up $0.35)

January 35 calls (JNPR110122C00035000, $1.85, up $0.15)

Entry Price:  $1.30 (11/17/10)

Exit Target: $2.60

Return: 42%

Stop Target: 65 cents, raise to $1.00 

Action:  We are looking for shares to test their 52-week high of $36 within the next few weeks.  Continue to hold.


Riverbed Technology (RVBD, $31.45, up $1.13)

March 35 calls (RVBD110319C00035000, $2.50, up $0.45)

Entry Price:  $1.40 (11/17/10)

Exit Target: $2.80

Return: 79%

Stop Target: None 

Action:  Shares hit a fresh 52-week high of $31.85 on Friday.  Continue to hold.


CBOE Holdings (CBOE, $25.02, up $0.31)

December 25 calls (CBOE101218C00025000, $0.95, up $0.20)

Entry Price:  $0.75 (11/8/10)

Exit Target: $2.40+

Return: 27%

Stop Target: None

Action:  CBOE finally broke $25 around 2pm on Friday and kissed $25.30.  Continue to hold.


Darden Restaurants (DRI, $49.04, up $0.18)

December 49 calls (DRI101218C00049000, $1.50, up $0.05) 

Entry Price:  $1.20 (11/8/10)

Exit Target: $2.40+

Return: 25%

Stop Target: $1.25

Action:  We are looking for a break above $50 and a possible run to $55.  Continue to hold.


Aruba Networks (ARUN, $23.34, up $0.36)

January 25 calls (ARUN110122C00025000, $1.20, up $0.10)

Entry Price:  $1.20 (11/2/10)

Exit Target: $2.40+

Return: 0%

Stop Target:  60 cents

Action:  Continue to hold.


PowerShares QQQ (QQQQ, $52.47, up $0.04)

January 53 calls (QQQQ110122C00053000, $1.35, down $0.05)

Entry Price:  $1.54 (10/27/10)

Exit Target: $3.00+

Return: -12%

Stop Target: 75 cents

Action:  Continue to hold.


American Tower (AMT, $51.94, up $0.35)

April (2011) 60 calls (AMT110416C00060000, $0.75, flat)

Entry Price:  $0.65 (10/20/10)

Exit Target: $1.30+

Return:  15%

Stop Target: None

Action:  Continue to hold.


Chesapeake Energy (CHK, $22.25, flat)

January (2011) 25 calls (CHK110122C00025000, $0.40, flat)

Entry Price:  $1.15 (10/13/10)

Exit Target: $2.30

Return: -65%

Stop Target: None

Action:  Continue to hold.


Dendreon (DNDN, $37.47, down $0.76) (COVERED CALL)

December 40 call (DNDN101218C00040000, $0.95, down $0.40)

Entry Price:  $41.96 (9/13/10) sold October 45 call @ $1.30, (11/11/10) sold December call @$1.75

Exit Target: $45

Return: -4%

Stop Target: None

Action:  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.

On 11/11/10 we sold the December 40 call option for $1.75 which lowered our cost basis to $38.91.  If the stock gets “called away” from us by mid-December then we make 3% in 3 months.


Other 2010 Portfolio OPEN positions (1):  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.

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.

Brocade Communications Systems (BRCD, $5.75, up $0.03)

January 5 calls (BRCD110122C00005000, $0.93, up $0.06)

April 6 calls (BRCD110416C00006000, $0.57, up $0.04)

Action:  We profiled 2 call options on Brocade on 10/13 that returned 17% and 50%, respectively, and the April calls are under our original recommended price of 60 cents back then.  The company announces earnings after the bell and we may play the January in-the-money call for a quick trade.  If we do, we will send out an alert.


THQ (THQI, $4.79, down $0.02)

December 5 calls (THQI101218C00005000, $0.15, flat)

March 5 calls (THQI110319C00005000, $0.55, flat)

Action:  Watch for now.


Cisco Systems (CSCO, $19.61, flat)

Action:  We are looking at Cisco as a covered call trade.


Foster Wheeler (FWLT, $28.88, up $0.28)

January 30 calls (FWLT110122C00030000, $1.35, up $0.05)

Action:  We did a big write-up on the company in last night’s Weekly Wrap and we are waiting for a break above $30.


Ingersoll-Rand (IR, $40.91, down $0.30)

January 45 calls (IR110122C00045000, $0.45, down $0.10)

Action:  Watch for now.