9:00am (EST)
Best Buy (BBY, $42.66, up $1.48)
April 41 calls (BYY100417C00041000, $2.10, up $0.50)
Entry Price: $1.10 (3/18/10)
Exit Target: $4.00 (closed half at $3.50 on 3/25/10)
Return: 155%
Stop Target: $2.25, lower to $1.75
Action: These calls traded to a high of $3.90 and we closed half into strength. Shares are slightly higher in early action this morning. IMPORTANT, the $1.75 is a HARD stop which means if we dip below this level, we are gone.
Akamai Technologies (AKAM, $31.51, down $0.05)
April 32 calls (UMU100417C00032000, $0.76, down $0.11)
Entry Price: $1.22 (3/17/10)
Exit Target: $2.45
Return: -38%
Stop Target: 60 cents
Action: The calls traded to a high of $1.52 before fading with the rest of the market. Shares are trading near $32 in pre-market trading.
SanDisk (SNDK, $34.95, down $0.23)
April 36 calls (SWF100417C00036000, $1.00, down $0.12)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: -15%
Stop Target: $1.00
Action: The stock traded as high as $36.25 and the options made it to $1.37 yesterday. Shares are trading over $35 before the bell.
Bucyrus International (BUCY, $67.28, down $0.87)
April 70 calls (HIK100417C00070000, $1.65, down $0.20)
Entry Price: $1.60 (3/11/10)
Exit Target: $3.20 (closed half at $2.40 on 3/23/10)
Return: 28%
Stop Target: $1.60
Action: We should get a higher open this morning as shares are bidding $68 in pre-market trading.
EMC (EMC, $18.73, down $0.09)
April 19 calls (EMC100417C00019000, $0.30, flat)
Entry Price: $0.55 (1/19/10)
Exit Target: $1.00
Return: -45%
Stop Target: $0.25
Action: Shares touched a high of $19.04 yesterday, a 52-week high, and the stock has the look and feel like it’s going to $20. Continue to hold.
Other 2010 Portfolio OPEN positions (4): 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, $81.70, up $0.26), TiVo (TIVO, $16.24, down $0.35), Shuffle Master (SHFL, $7.88, down $0.14), General Mills (GIS, $71.15, down $1.03).
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, $9.36, down $0.25)
June 10 calls (QJS10061900010000, $0.95, down $0.10)
Action: There is a huge short interest in the stock but Vivus has drug that could be worth $1 billion…
Garmin (GRMN, $39.02, up $0.97)
May 33 puts (QGR100522P00033000, $1.00, flat)
May 35 puts (QGR100522P00035000, $1.25, down $0.57)
Action: The puts traded to a low of $0.70 when our 1pm update came out and maybe we should have pulled the trigger on the May 33’s. The 35’s are also looking good.
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