1:15pm (EST)
General Mills (GIS, $71.18, down $1.00)
April 75 calls (GIS100417C00075000, $0.20, down $0.10)
Entry Price: $0.60 (3/23/10)
Exit Target: $1.20
Return: -67%
Stop Target: None
Action: We thought General Mills would respond better than this but the options still have 22 days before expiration. We are going to keep this one open but we are dropping coverage. Some of you may wish to close positions here but this was a cheap out-of-the-money trade that could recover.
Best Buy (BBY, $43.31, up $2.13)
April 41 calls (BYY100417C00041000, $2.70, up $1.10)
Entry Price: $1.10 (3/18/10)
Exit Target: $2.20, raise to $4 (closed half at $3.50 on 3/25/10)
Return: 182%
Stop Target: $2.25
Action: We have given a little back but by selling half of our trade we guaranteed ourselves a 100% return. The stop represents a 150% return should shares continue to fade.
Akamai Technologies (AKAM, $31.88, up $0.32)
April 32 calls (UMU100417C00032000, $0.95, up $0.13)
Entry Price: $1.22 (3/17/10)
Exit Target: $2.45
Return: -22%
Stop Target: 60 cents
Action: Continue to hold.
SanDisk (SNDK, $35.49, up $0.41)
April 36 calls (SWF100417C00036000, $1.25, up $0.13)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: 28%
Stop Target: $1.00
Action: Continue to hold.
Bucyrus International (BUCY, $69.57, up $1.42)
April 70 calls (HIK100417C00070000, $2.60, up $0.75)
Entry Price: $1.60 (3/11/10)
Exit Target: $3.20 (closed half at $2.40 on 3/23/10)
Return: 56%
Stop Target: 80 cents, raise to $1.60
Action: Continue to hold the other half but we have raised the stop.
EMC (EMC, $18.88, up $0.06)
April 19 calls (EMC100417C00019000, $0.35, down $0.05)
Entry Price: $0.55 (1/19/10)
Exit Target: $1.00
Return: -33%
Stop Target: $0.25
Action: Shares have touched a high of $19.04, a 52-week high. Continue to hold.
Other 2010 Portfolio OPEN positions (3): These are trades that are still open in the portfolio that have longer expiration dates but are not worth mentioning until they turn around. This way you know we are still tracking them and we will record the results, accordingly. Click on the 2010 Portfolio link in the Members Area to view ALL open/ closed trades.
Berkshire Hathaway Class B (BRK/B, $82.17, up $0.73), TiVo (TIVO, $16.64, up $0.05), Shuffle Master (SHFL, $8.09, up $0.06)
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. We will not list entry prices because these stocks are on the verge of breaking out or they could selloff.
Vivus (VVUS, $9.67, up $0.06)
June 10 calls (QJS10061900010000, $1.05, flat)
Action: Takeover talk is heating up.
Oracle (ORCL, $26.15, up $0.38)
April 26 calls (ORQ100417C00026000, $0.85, up $0.21)
Action: The action is intense as over 13,500 contracts have traded so far. We would pull the trigger but we are going to let this one pass although we do have a good feeling on it.
Garmin (GRMN, $40.30, up $2.25)
May 33 puts (QGR100417P00033000, $0.70, down $0.30)
Action: Here we are. We may have to go with a higher strike put option so this trade is still developing. However, we love the fact Garmin keeps on rocking higher.
*****************
10:00am (EST)
Best Buy (BBY, $44.22, up $3.04)
April 41 calls (BYY100417C00041000, $3.40, up $1.80)
Entry Price: $1.10 (3/18/10)
Exit Target: $2.20, raise to $4 (closed half at $3.50 on 3/25/10)
Return: 215%
Stop Target: $1.25, raise to $2.25
Action: The calls have traded as high as $3.65 and we have a tiger by the tail. Some talking heads are calling for a share price of $48 over 6 months but we could get there by next week.
SanDisk (SNDK, $36.05, up $0.88)
April 36 calls (SWF100417C00036000, $1.50, up $0.38)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: 28%
Stop Target: 50 cents, raise to $1.00
Action: Continue to hold.
Bucyrus International (BUCY, $70.21, up $2.06)
April 70 calls (HIK100417C00070000, $2.90, up $1.05)
Entry Price: $1.60 (3/11/10)
Exit Target: $3.20 (closed half at $2.40 on 3/23/10)
Return: 66%
Stop Target: 80 cents, raise to $1.60
Action: Continue to hold the other half but we have raised the stop.
******************
9:10am (EST)
General Mills (GIS, $72.18, down $1.39)
April 75 calls (GIS100417C00075000, $0.30, down $0.40)
Entry Price: $0.60 (3/23/10)
Exit Target: $1.20
Return: -50%
Stop Target: None
Action: We kept this open because it was a “cheap” out-of-the-money option. Shares are up in early action. Continue to hold.
Best Buy (BBY, $41.18, down $0.83)
April 41 calls (BYY100417C00041000, $1.60, down $0.12)
Entry Price: $1.10 (3/18/10)
Exit Target: $2.20
Return: 45%
Stop Target: $1.25
Action: Close half into strength. The calls should open well north of $2 and we want to close half the trade shortly after the open. Best buy could run past $45 but we want to take a little off table in case shares slip after the open.
Akamai Technologies (AKAM, $31.56, up $0.04)
April 32 calls (UMU100417C00032000, $0.82, flat)
Entry Price: $1.22 (3/17/10)
Exit Target: $2.45
Return: -33%
Stop Target: 60 cents
Action: Akamai is pushing $32 in early action.
SanDisk (SNDK, $35.18, up $0.35)
April 36 calls (SWF100417C00036000, $1.12, up $0.12)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: -4%
Stop Target: 50 cents
Action: SanDisk continues to make new 52-week highs and should have a good day again.
Bucyrus International (BUCY, $68.15, down $0.97)
April 70 calls (HIK100417C00070000, $1.95, down $0.45)
Entry Price: $1.60 (3/11/10)
Exit Target: $3.20 (closed half at $2.40 on 3/23/10)
Return: 36%
Stop Target: 80 cents
Action: Continue to hold.
EMC (EMC, $18.82, down $0.12)
April 19 calls (EMC100417C00019000, $0.35, down $0.05)
Entry Price: $0.55 (1/19/10)
Exit Target: $1.00
Return: -36%
Stop Target: $0.25
Action: Is today the day EMC makes a 52-week high?
Other 2010 Portfolio OPEN positions (3): These are trades that are still open in the portfolio that have longer expiration dates but are not worth mentioning until they turn around. This way you know we are still tracking them and we will record the results, accordingly. Click on the 2010 Portfolio link in the Members Area to view ALL open/ closed trades.
Berkshire Hathaway Class B (BRK/B, $81.44, down $0.89), TiVo (TIVO, $16.59, up $0.42), Shuffle Master (SHFL, $8.02, down $0.06)
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. We will not list entry prices because these stocks are on the verge of breaking out or they could selloff.
Vivus (VVUS, $9.61, down $0.09)
June 10 calls (QJS10061900010000, $1.05, flat)
Action: Takeover talk is heating up.
Oracle (ORCL, $25.76, down $0.23)
April 26 calls (ORQ100417C00026000, $0.64, flat)
Action: Continue to watch
Garmin (GRMN, $38.05, up $0.81)
May 33 puts (QGR100417P00033000, $1.00, down $0.30
Action: We are trying to get these options for 50-75 cents. If we get to these levels we will send out an alert if we add them to the portfolio.
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