9:00am (EST)
SAIC (SAI, $14.55, up $0.33)
June 15 calls (SAI130622C00015000, $0.35, up $0.15)
Entry Price: $0.25 (4/24/13)
Exit Target: $0.75
Return: 40%
Stop Target: None
August 15 calls (SAI130817C00015000, $0.50, up $0.20)
Entry Price: $0.40 (4/24/13)
Exit Target: $1.20
Return: 25%
Stop Target: None
Action: Shares are poised to make a run at $18 once $15 is cleared. Support is at $13.50.
Caterpillar (CAT, $83.78, down $0.32)
May 77.50 puts (CAT130518P00077500, $0.25, flat)
Entry Price: $1.25 (4/18/13)
Exit Target: $2.50
Return: -80%
Stop Target: 60 cents
Action: Resistance at $85 is holding but we will close the trade if shares trade above this level.
Sina (SINA, $48.72, up $0.80)
May 40 puts (SINA130518P00040000, $0.20, down $0.05)
Entry Price: $0.67 (4/18/13)
Exit Target: $1.35
Return: -70%
Stop Target: None
Action: We will stick with the trade as long as $50 holds. Yesterday’s high was $48.91.
Spider S&P 500 (SPY, $157.88, up $0.10)
May 150 puts (SPY130518P00150000, $0.40, flat)
Entry Price: $1.35 (4/18/13)
Exit Target: $2.70
Return: -70%
Stop Target: None
Action: There is risk to $160 but we would like to see a close below $157.50 by the weekend.
Powershares QQQ (QQQ, $69.42, down $0.03)
May 66 puts (QQQ130518P00066000, $0.25, flat)
Entry Price: $0.80 (4/18/13)
Exit Target: $1.60
Return: -69%
Stop Target: None
Action: If the QQQ’s clear $70 we may exit this position.
Freeport-McMoRan Copper & Gold (FCX, $29.78, up $1.26)
May 26 puts (FCX130518P00026000, $0.20, down $0.05)
Entry Price: $0.75 (4/17/13)
Exit Target: $1.50
Return: -73%
Stop Target: None
Action: There is risk to $30 on a back test but we have a price target of $25 by mid-May for FCX. However, a close above $30 could force us out.
Symantec (SYMC, $24.37, up $0.21)
May 25 calls (SYMC130518C00025000, $0.50, up $0.05)
Entry Price: $0.60 (4/11/13)
Exit Target: $1.20
Return: -17%
Stop Target: None
Action: We were looking for a close above $24.50 yesterday and the high checked-in at $24.49.
Keryx Biopharmaceuticals (KERX, $8.10, down $0.21)
June 10 calls (KERX130622C00010000, $0.40, down $0.10)
Entry Price: $0.70 (2/12/13)
Exit Target: $1.40
Return: -43%
Stop Target: None
Action: Support is at $8 and we would like to see a close above $8.50 before the weekend.
Other 2013 Portfolio OPEN positions (2): 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.
Ironwood Pharmaceuticals May 20 calls (from March 2013)
MGM Resorts International June 15 calls (from February 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
Solazyme (SZYM, $8.71, up $0.80)
June 10 calls (SZYM130622C00010000, $0.30, up $0.15)
Thoughts: We told you this one was ready to explode and when we looked at the options yesterday only 10 contracts had traded. By the closing bell over 1,000 contracts trades as the options doubled. The company will announce earnings on May 8.
Clorox (CLX, $87.42, down $2.03)
May 92.50 calls (CLX130518C00092500, $0.45, down $0.05)
Thoughts: Resistance at $90 has been a brick wall and yesterday’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 to see if there is a possible trade.
FedEx (FDX, $94.46, up $1.29)
May 97.50 calls (FDX130518C00097500, $0.80, up $0.40)
May 90 puts (FDX130518P00090000, $0.60, down $0.20)
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, $0.30, up $0.18) could also do well.
Cyberonics (CYBX, $43.42, down $1.14)
May 40 puts (fCYBX130518P00040000, $0.65, up $0.20)
Thoughts: Resistance is at $45 and we are expecting a drop below $40 by mid-May. Yesterday’s breakdown could get the ball rolling.
Spider Gold Shares (GLD, $138.37, up $1.49)
May 130 puts (GLD130518P00130000, $0.75, down $0.35)
June 124 puts (GLD130622P00124000, $0.75, down $0.20)
Thoughts: There could be a rebound to $140 and a close above this level would be bullish.
Bank of America (BAC, $12.31, up $0.24)
June 12 calls (BAC130622C00012000, $0.65, up $0.10)
Action: These options have had a sweet week.
iShares Russell 2000 (IWM, $92.79, up $0.48)
May 90 puts (IWM130518P00090000, $0.80, down $0.10)
Thoughts: Watch for now.
