9:00am (EST)

Solazyme (SZYM, $9.15, up $0.44)

June 10 calls (SZYM130622C00010000, $0.40, up $0.10)

Entry Price:  $0.35 (4/25/13)
Exit Target:  $0.70
Return:  14%
Stop Target:  None

Action:  We believe shares can push $11 on a pop past $10 and would be more than enough to get us a double on these call options.

 

SAIC (SAI, $14.75, up $0.20)

June 15 calls (SAI130622C00015000, $0.45, up $0.10)

Entry Price:  $0.25 (4/24/13)
Exit Target:  $0.75
Return:  80%
Stop Target:  None

August 15 calls (SAI130817C00015000, $0.65, up $0.15)

Entry Price:  $0.40 (4/24/13)
Exit Target:  $1.20
Return:  63%
Stop Target:  None

Action:  Shares are poised to make a run at $18 once $15 is cleared.  Yesterday’s high was $14.92.

 

Caterpillar (CAT, $84.41, up $0.73)

May 77.50 puts (CAT130518P00077500, $0.20, down $0.05)

Entry Price:  $1.25 (4/18/13)
Exit Target:  $2.50
Return:  -84%
Stop Target:  60 cents

Action:  Shares kissed $85.02 yesterday so everyone should be out of this trade.  We should have made this a strangle earnings trade after $80 held but we will lick our wounds and move on.

 

Sina (SINA, $49.86, up $1.14)

May 40 puts (SINA130518P00040000, $0.15, down $0.05)

Entry Price:  $0.67 (4/18/13)
Exit Target:  $1.35
Return:  -78%
Stop Target:  None

Action:  Shares cleared $50 following or midday update so this trade was closed as well.

 

Symantec (SYMC, $24.45, up $0.08)

May 25 calls (SYMC130518C00025000, $0.55, up $0.05)

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

Action:  We were looking for a close above $24.50 yesterday and the high checked-in at $24.62.  Maybe today.

 

Keryx Biopharmaceuticals (KERX, $8.34, up $0.24)

June 10 calls (KERX130622C00010000, $0.50, up $0.10)

Entry Price:  $0.70 (2/12/13)
Exit Target:  $1.40
Return:  -29%
Stop Target:  None

Action:  Support is at $8 and we would like to see a close above $8.50 before the weekend.

 

MGM Resorts International (MGM, $13.53, up $0.50)

June 15 calls (MGM130622C00015000, $0.30, up $0.10)

Entry Price:  $0.40 (1/2/13)
Exit Target:  $0.80
Return:  -25%
Stop Target:  None

Action:  This is an older trade from January that we have been patient with.  Shares have been strong all week and are closing in on their 52-week high of $13.89.  Earnings are due out next Thursday and there is a chance we get our breakout to $15 on better-than-expected numbers.

 

Other 2013 Portfolio OPEN positions (3):  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 2013 Portfolio link in the Members Area to view ALL open/ closed trades.

Ironwood Pharmaceuticals May 20 calls (from March 2013)

Spider S&P 500 May 150 puts (from April 2013)

Powershares QQQ May 66 puts (from April 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 candidat

 

MGM Resorts International (MGM, $13.53, up $0.50)

May 14 calls (MGM130518C00014000, $0.35, up $0.15)

Thoughts:  As we are preparing this weekend’s Weekly Wrap, we listed these call options to sell to further lower our cost basis in the stock but we have waited because we have been watching the break to new highs.  Earnings are due out next week which is an added element but shares could be ready to test our $15 price target.

 

SolarCity (SCTY, $23.89, up $0.55)

May 25 calls (SCTY130518C00025000, $0.95, up)

Thoughts:  We have said this recent IPO could trade past $20 and yesterday’s high was $24.45.

 

Sunpower (SPWR, $12.16, down $0.10)

June 14 calls (SPWR130622C00014000, $0.90, down $0.05)

Thoughts:  This is also another solar play.

 

Clorox (CLX, $87.06, down $0.36)

May 92.50 calls (CLX130518C00092500, $0.45, down $0.05)

Thoughts:  Resistance at $90 has been a brick wall and this week’s pullback was either a gift or we need to look at put options.  The company will announce earnings next Wednesday so we will look at the chart and do some research to see if there is a possible trade.

 

FedEx (FDX, $94.30, down $0.16)

May 97.50 calls (FDX130518C00097500, $0.70, down $0.10)

May 90 puts (FDX130518P00090000, $0.60, flat)

Thoughts:  FedEx won a $10 billion gig from the zombies to do the Post Office’s work.  This reversal could lead to a quick pop to $100 and the May 100 calls (FDX130518C00100000, $0.25, down $0.05) could also do well.

 

Cyberonics (CYBX, $43.24, down $0.18)

May 40 puts (CYBX130518P00040000, $0.65, flat)

June 40 puts (CYBX130622P00040000, $x)

Thoughts:  Resistance is at $45 and we are expecting a drop below $40 by mid-May.

 

Spider Gold Shares (GLD, $141.63, up $3.26)

May 130 puts (GLD130518P00130000, $0.45, down $0.30)

June 124 puts (GLD130622P00124000, $0.50, down $0.25)

May 145 calls (GLD130518C00145000, $1.15, up $0.85)

Thoughts:  There could be a rebound to $140 and a close above this level would be bullish.  The May 145 calls OPENED at 50 cents after closing at 28 cents on Wednesday.  Wow.

 

Bank of America (BAC, $12.44, up $0.13)

June 12 calls (BAC130622C00012000, $0.70, up $0.05)

Action:  These options have had a sweet week.

 

iShares Russell 2000 (IWM, $93.40, up $0.61)

May 90 puts (IWM130518P00090000, $0.70, down $0.10)

Thoughts:  Watch for now.