1:05pm (EST)
Best Buy (BBY, $41.17, up $0.72)
April 41 calls (BYY100417C00041000, $1.50, up $0.28)
Entry Price: $1.10 (3/18/10)
Exit Target: $2.20
Return: 36%
Stop Target: 55 cents
Action: The calls opened at $1.82 and Best Buy has held up well today after the upgrade from Goldman. We are going to push the envelope a little and keep this one open. We were thinking of closing the trade but we are going for the double.
Akamai Technologies (AKAM, $31.50, down $0.44)
April 32 calls (UMU100417C00032000, $1.00, down $0.20)
Entry Price: $1.22 (3/17/10)
Exit Target: $2.45
Return: -18%
Stop Target: 60 cents
Action: Continue to hold.
Nike (NKE, $73.38, down $1.28)
April 75 calls (NKE100417C00075000, $1.05, down $0.55)
Entry Price: $0.50 (3/17/10)
Exit Target: (closed half at $1.50 on 3/18/10, half at $1.40 on 3/19/10)
Return: 190%
Stop Target: $1.40
Action: Nike slipped back below $75 but our stop protected us and took our emotions out of the trade. We scored back-to-back wins on Nike’s last two earnings report and we will have to wait and see where shares are in 3 months. There may or may not be another opportunity down the road.
SanDisk (SNDK, $32.09, down $0.96)
April 36 calls (SWF100417C00036000, $0.35, down $0.23)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: -70%
Stop Target: 50 cents
Action: SanDisk had traded below our stop target but the stock is capable of a 10% move on any given day. That is over a $3 move which would get shares to $35-$36 so we don’t want to panic. On the other hand, shares could continue lower. We would normally cut the position but we still like SanDisk so let’s see where we are next week.
Bucyrus International (BUCY, $64.44, down $1.33)
April 70 calls (HIK100417C00070000, $1.05, down $0.45)
Entry Price: $1.60 (3/11/10)
Exit Target: $2.40
Return: -34%
Stop Target: 80 cents
Action: Continue to hold.
Berkshire Hathaway Class B (BRK/B, $81.99, down $0.36)
June 100 calls (BPY100619C00100000, $0.15, flat)
Entry Price: $0.50 (2/1/10)
Exit Target: $1.00+
Return: -70%
Stop Target: None
September 100 calls (BPY100918C00100000, $0.50, flat)
Entry Price: $0.95 (2/1/10)
Exit Target: $2.00
Return: -47%
Stop Target: None
Action: Continue to hold.
EMC (EMC, $18.64, flat)
April 19 calls (EMC100417C00019000, $0.35, down $0.02)
Entry Price: $0.55 (1/19/10)
Exit Target: $1.00
Return: -36%
Stop Target: $0.25
Action: Continue to hold.
Other 2010 Portfolio OPEN positions (2): 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.
Shuffle Master (SHFL, $7.95, down $0.19) is a May option trade. We profiled the position in January 2010. TiVo (TIVO, $15.70, down $0.25).
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 sell-off.
Aetna (AET, $34.40, up $1.16)
April 35 calls (AET100417C00035000, $1.10, up $0.50)
Action: Looks like we are a day late but we will see where we are Monday.
WellPoint (WLP, $65.54, up $1.72).
April 65 calls (WLP100417C00065000, $2.40, up $0.74)
April 70 calls (WLP100417C00070000, $0.58, up $0.18)
Action: We did say we liked the $70’s…
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