1:00pm (EST)
NEW TRADE!!!
Fastenal (FAST, $51.26, up $0.11)
May 55 calls (FQA10052200055000, $0.55, up $0.05)
Action: Let’s pull the trigger. This will only be a one or two day trade.
CURRENT TRADES
JDS Uniphase (JDSU, $13.69, up $0.17)
May 14 calls (UQD100522C00014000, $0.75, up $0.05)
Entry Price: $0.75 (4/12/10)
Exit Target: $1.50+
Return: 0%
Stop Target: None
Action: We think JDSU could easily trade $15-$16 by May and these options have 39 for us to get there for a double.
Corning (GLW, $19.87, up $0.20)
August 22 calls (GLW100821C00022000, $0.60, up $0.05)
Entry Price: $0.60 (4/12/10)
Exit Target: $1.20+
Return: 0%
Stop Target: None
Action: We went a little further out with this trade to give us some protection from any market correction. We don’t see that happening but we also think Corning can hit $25 by the end of the summer. If so, these calls will be worth at least $3.00, or 400% higher from current levels.
Garmin (GRMN, $37.73, down $0.39)
May 32 puts (QGR100522P00032000, $0.85, up $0.05)
Entry Price: $1.00 (4/5/10)
Exit Target: $2.00+
Return: -15%
Stop Target: None
Action: Continue to hold.
Diamonds Trust Series (DIA, $110.25, up $0.19)
April 110 calls (DIA100417C00110000, $0.80, flat)
Entry Price: $0.85 (4/5/10)
Exit Target: $1.10-$1.15, lower to $1.00
Return: -6%
Stop Target: 40 cents
Action: The calls have traded to a high of 82 cents and we have set an exit price to now get out at $1.00. We think we will get to $1 sometime this week but the options expire Friday and we want to be able to get out with at least a small profit.
Canadian Solar (CSIQ, $24.35, up $0.25)
May 26 calls (GQA100522C00026000, $1.30, up $0.15)
Entry Price: $1.20 (3/30/10)
Exit Target: $2.00-$2.40
Return: 8%
Stop Target: None
Action: Continue to hold.
American Tower (AMT, $42.30, down $0.32)
May 45 calls (AMT100522C00045000, $0.50, down $0.05)
Entry Price: $0.60 (3/29/10)
Exit Target: $1.30+
Return: -17%
Stop Target: None
Action: Continue to hold.
TiVo (TIVO, $17.49, down $0.11)
May 20 calls (TUK100522C00020000, $0.70, down $0.05)
Entry Price: $0.85 (3/5/10)
Exit Target: $1.70
Return: -18%
Stop Target: None
Action: 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, $80.69, up $0.20), EMC (EMC, $19.08, up $0.54), Shuffle Master (SHFL, $8.37, down $0.14), General Mills (GIS, $70.82, up $0.66). Special Note: EMC is making a huge move and the April 19 calls are at 28 cents. We will update this trade tomorrow. We have been in the trade since January…
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.
Bank of America (BAC, $18.79, up $0.20)
May 19 calls (BYO100522C00019000, $0.65, up $0.07)
August 20 calls (BYO100821C00020000, $0.90, up $0.10)
Action: We really like the August call options.
DreamWorks Animation (DWA, $40.31, up $1.59
May 40 calls (DWA100522C00040000, $2.00, up $0.80)
June 45 calls (DWA100619C00045000, $0.90, up $0.40)
Action: Shares opened at $39.24 and quickly took off to $40 this morning…just like we said. The move was pretty quick so we couldn’t have gotten everyone in if we had sent out an alert. The May 40 calls opened at $1.35. Maybe some of you got in this trade last week and if you did; congratulations. You nearly have a double.
Dendreon (DNDN, $39.20, down $0.19)
May 50 call (UQB100522C00050000, $1.70, down $0.10)
Action: Continue to watch.
**********************
11:45am (EST)
NEW TRADES!!!
JDS Uniphase (JDSU, $13.66, up $0.14)
Buy to OPEN May 14 calls (UQD100417C00014000, $0.75, up $0.05)
Action: The current “ask” is 75 cents so use limit orders and grab then at this price. You can go up to 80-85 cents if you need to.
Corning (GLW, $19.85, up $0.18)
Buy to OPEN August 22 calls (GLW100821C00022000, $0.60, up $0.05)
Action: You should be able to get these options now for 60 cents with a limit order but you can go up to 65-70 cents if needed to get your orders filled.
******************
9:05am (EST)
Garmin (GRMN, $38.12, down $0.02)
May 32 puts (QGR100522P00032000, $0.80, flat)
Entry Price: $1.00 (4/5/10)
Exit Target: $2.00+
Return: -20%
Stop Target: None
Action: Continue to hold.
Diamonds Trust Series (DIA, $110.06, up $0.69)
April 110 calls (DIA100417C00110000, $0.80, up $0.30)
Entry Price: $0.85 (4/5/10)
Exit Target: $1.10-$1.15
Return: -6%
Stop Target: 40 cents
Action: The Dow did it. We said to close the trade by 4pm if we didn’t make Dow 11,000 but the bulls didn’t let us down. Hopefully we can turn a profit now.
Canadian Solar (CSIQ, $24.10, down $1.55)
May 26 calls (GQA100522C00026000, $1.15, down $0.65)
Entry Price: $1.20 (3/30/10)
Exit Target: $2.00-$2.40
Return: -4%
Stop Target: None
Action: Canadian Solar made a huge move last week only to give back most of those gains on Friday. The stock broke through major resistance mid-week and touched a high of $26.26 and our calls were up 50%.
We figured after breaking through such strong resistance the stock would come back and fill in the gaps but we really thought $25 would hold. We are still at support so we aren’t nervous about giving the trade a little time. However, we were disappointed that we gave up some nice gains on a day the market broke out to new highs.
American Tower (AMT, $42.62, up $0.59)
May 45 calls (AMT100522C00045000, $0.55, up $0.10)
Entry Price: $0.60 (3/29/10)
Exit Target: $1.30+
Return: -8%
Stop Target: None
Action: American Tower followed the aforementioned pattern that CSIQ went through last week but we still believe the stock can test its 52-week high of $45 over the next few weeks.
Akamai Technologies (AKAM, $33.21, up $0.61)
April 32 calls (UMU100417C00032000, $1.30, up $0.40)
Entry Price: $1.22 (3/17/10)
Exit Target: closed on 4/9/10 at $1.25
Return: 2%
Stop Target: 60 cents
Action: We closed this position on Friday after the stock rallied and hit our $1.25 exit. We may have given up some sweet gains or then again we may have saved a little. We had too many open trades heading into the weekend so we wanted to take some risk out of the portfolio and have the opportunity to add new trades. We LOVE this company over the long haul and I’m sure we will be seeing it again in the near future.
SanDisk (SNDK, $36.03, up $0.40)
April 36 calls (SWF100417C00036000, $0.70, up $0.10)
Entry Price: $1.17 (3/11/10)
Exit Target: closed on 4/9/10 at 50 cents
Return: -57%
Stop Target: $1.00
Action: As fate would have it, Sandisk caught wings right after we clipped the trade.
TiVo (TIVO, $17.60, up $0.26)
May 20 calls (TUK100522C00020000, $0.75, up $0.15)
Entry Price: $0.85 (3/5/10)
Exit Target: $1.70
Return: -12%
Stop Target: None
Action: Rumors and litigation news make this an explosive situation. The good news is that we expect everything to come TiVo’s way and shares easily trade over $20 in the next few weeks.
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, $80.49, up $0.81), EMC (EMC, $18.54, up $0.14), Shuffle Master (SHFL, $8.37, down $0.14), General Mills (GIS, $70.82, up $0.66).
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.
Fastenal (FAST, $51.51, up $0.34)
May 55 calls (FQA10052200055000, $0.50, up $0.05)
Action: The company reports earnings tomorrow.
Bank of America (BAC, $18.59, down $0.06)
May 19 calls (BYO100522C00019000, $0.58, up $0.02)
August 20 calls (BYO100821C00020000, $0.80, flat)
Action: Financials could get a lift and we really like BAC as it appears to be making another run to $20.
Corning (GLW, $19.67, down $0.15)
August 22 calls (GLW100821C00022000, $0.55, down $0.05)
Action: We might be adding these options sometime this week.
DreamWorks Animation (DWA, $38.72, up $0.61)
May 40 calls (DWA100522C00040000, $1.20, up $0.20)
June 45 calls (DWA100619C00045000, $0.50, up $0.05)
Action: Shares look ready to trade back over $40.
JDS Uniphase (JDSU, $13.52, up $0.34)
May 14 calls (UQD100417C00014000, $0.65, up $0.05)
Action: This trade could make a move this week.
Dendreon (DNDN, $39.39, down $0.27)
May 50 call (UQB100522C00050000, $1.80, flat)
Action: Continue to watch.
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