9:00am (EST)

Symantec (SYMC, $24.30, down $0.15)

May 25 calls (SYMC130518C00025000, $0.55, down $0.10)

Entry Price:  $0.60 (4/11/13)
Exit Target:  $1.20
Return:  -8%
Stop Target:  None

Action:  The 52-week high of $24.91 was hit in early March and we believe a move past $25 and up to $27-$28 is in the works.

 

Yahoo (YHOO, $24.49, up $0.28)

May 25 calls (YHOO130518C00025000, $0.70, up $0.15)

Entry Price:  $0.65 (4/11/13)
Exit Target:  $1.30
Return:  8%
Stop Target:  None

Action:  We would like to see a close above $25 today.

 

Sony (SNE, $16.90, down $0.03)

April 18 calls (SNE130420C00018000, $0.10, down $0.05)

Entry Price:  $0.35 (3/27/13)
Exit Target:  $0.40+
Return:  -71%
Stop Target:  None

Action:  Our breakeven point is $18.35 by next Friday.

 

Ironwood Pharmaceuticals (IRWD, $17.77, down $0.18)

April 20 calls (IRWD130420C00020000, $0.15, flat)

Entry Price:  $0.50 (3/19/13)
Exit Target:  $1.00
Return:  -70%
Stop Target:  None

May 20 calls (IRWD130518C00020000, $0.50, flat)

Entry Price:  $0.75 (3/19/13)
Exit Target:  $1.50
Return:  -33%
Stop Target:  None

Action:  We have been looking for a close above $18 and shares traded to a high of $18.02 before falling back into the close.  We would love to see a close above this level today for a possible push ti $20 next week.

 

Keryx Biopharmaceuticals (KERX, $8.10, down $0.18)

June 10 calls (KERX130622C00010000, $0.45, down $0.05)

Entry Price:  $0.70 (2/12/13)
Exit Target:  $1.40
Return:  -36%
Stop Target:  None

Action:  Resistance is at $9.  A close above this level could get double-digits in the mix.

 

Other 2013 Portfolio OPEN positions (7):  These are trades that are still open in the portfolio but are down over 50%.  They have longer expiration dates and are on “hold” but are not worth mentioning until they turn around.  This means we would not open any new positions.  We are still keeping track of the trades and we will record the results, accordingly, when we close them or if the options expire.  Click on the 2013Portfolio link in the Members Area to view ALL open/ closed trades.

Facebook April 29 calls (from February 2013) – Shares are over $28 and if they make a push to $30 by next Friday we will have a nice profit

Cisco Systems April 22 calls (from March 2013) – Shares are making a run at $22 but we need it to come by next Friday..

Baidu April 75 puts (from March 2013)

Cyberonics April 40 puts (from February 2013)

iShares Dow Jones Transportation Average April 100 puts (from February 2013)

Taiwan Semiconductor April 20 calls (from January 2013)

MGM Resorts International June 15 calls (from January 2013)

 

WATCH LIST SECTION

These trades are NOT recommendations.  They 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 try not to have more than 12-15 open trades at any one time which is why we created a Watch List.  We will not list entry prices because these stocks are on the verge of breaking out or they could sell off but these are the trades we are watching as new candidates.

 

JPMorgan Chase (JPM, $49.31, up $0.06)

May 50 calls (JPM130518C00050000, $1.00, up $0.05)

Thoughts:  JP reports earnings this morning.

 

Bed Bath & Beyond (BBBY, $65.50, down $1.00)

April 67.50 calls (BBBY130420C00067500, $0.10, down $1.00)

May 57.50 puts (BBBY130518P00057500, $0.20, down $0.15)

Thoughts:  The April calls traded up to $1.43 before getting crushed by the close but there was a chance to make 50% at the open.  The May 57.50 puts could do well on a continued slide.

 

Powershares QQQ(QQQ, $69.96, down $0.06)

May 71 calls (QQQ130518C00071000, $0.65, flat)

Thoughts:  Watch for now.

 

Caterpillar (CAT, $85.70, down $0.87)

May 82.50 puts (CAT130518P00082500, $1.30, up $0.20)

May 85 puts (CAT130518P00085000, $2.25, up $0.35)

Thoughts:  Earnings are due out on April 22.  We would ove to see a back test to $88-$90 ahead of the event.

 

Sina (SINA, $48.60, up $0.08)

May 45 puts (SINA130518P00045000, $1.55, up $0.15)

Thoughts:  We are waiting for a drop below $46 to go short but we would like to see a back test to $50.

 

Bank of America (BAC, $12.27, down $0.05)

April 12 calls (BAC130420C00012000, $0.40, down $0.04)

June 13 calls (BAC130622C00013000, $0.30, down $0.02)

Action:  A close back above $12.50 would be bullish.

 

Spider S&P 500 (SPY, $159.19, up $0.52)

May 155 puts (SPY130518P00154000, $1.00, down $0.15)

Thoughts:  The S&P could make a run at 1,600 which means the Spiders could reach $160.  We would wait for a break below $155 before possibly going short.

 

iShares Russell 2000 (IWM, $94.02, up $0.13)

May 90 puts (IWM130518P00090000, $0.65, down $0.05)

Thoughts:  Watch for now.