9:00am (EST)
Best Buy (BBY, $40.99, up $0.54)
April 41 calls (BYY100417C00041000, $1.55, up $0.35)
Entry Price: $1.10 (3/18/10)
Exit Target: $2.20
Return: 41%
Stop Target: 55 cents
Action: Best Buy reports Thursday and the stock is down about 50 cents in pre-market trading.
Akamai Technologies (AKAM, $31.39, down $0.55)
April 32 calls (UMU100417C00032000, $0.95, down $0.25)
Entry Price: $1.22 (3/17/10)
Exit Target: $2.45
Return: -22%
Stop Target: 60 cents
Action: Continue to hold.
SanDisk (SNDK, $32.25, down $0.80)
April 36 calls (SWF100417C00036000, $0.37, down $0.20)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: -68%
Stop Target: 50 cents
Action: Continue to hold. We blew past our stop on Friday and it doesn’t make much sense to sell this low. We could still get some kind of “snap-back” rally but a lot of our calls are going to get clipped this morning.
Bucyrus International (BUCY, $65.05, down $0.72)
April 70 calls (HIK100417C00070000, $1.15, down $0.35)
Entry Price: $1.60 (3/11/10)
Exit Target: $2.40
Return: -28%
Stop Target: 80 cents
Action: Continue to hold.
Berkshire Hathaway Class B (BRK/B, $82.06, down $0.29)
June 100 calls (BPY100619C00100000, $0.10, down $0.05)
Entry Price: $0.50 (2/1/10)
Exit Target: $1.00+
Return: -80%
Stop Target: None
September 100 calls (BPY100918C00100000, $0.45, down $0.05)
Entry Price: $0.95 (2/1/10)
Exit Target: $2.00
Return: -53%
Stop Target: None
Action: Continue to hold.
EMC (EMC, $18.61, down $0.03)
April 19 calls (EMC100417C00019000, $0.33, down $0.04)
Entry Price: $0.55 (1/19/10)
Exit Target: $1.00
Return: -40%
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, $8.04, down $0.10), TiVo (TIVO, $15.97, up $0.02).
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.
Standard & Poor Depositary Receipt (SPY, $115.97, down $0.58)
April 113 puts (SPY100417P00113000, $0.95, up $0.08)
Action: If the S&P 500 falls below 1,150 we may add these options. We may try to get them at the open but we want to see if the S&P can hold this level. If we do pull the trigger, we will send out an alert.
PowerShares Exchange Traded Fund (QQQQ, $47.49, down $0.29)
April 47 puts (QQQ100417P00045000, $0.63, up $0.06)
Action: Same deal here.
Garmin (GRMN, $36.13, down $0.61)
April 33 puts (QGR100417P00033000, $0.77, up $0.04)
Action: Still watching…
Walgreen (WAG, $34.53, down $0.29)
April 35 calls (WAG100417C00035000, $0.65, down $0.22)
Action: Walgreen reports Tuesday and should report a better quarter than last time out. Same-store sales are improving and returned to positive territory in February after falling the previous two months. This one is still a toss-up but we think Walgreen’s could surprise Wall Street.
KB Home (KBH, $17.33, down $0.31)
April 17.50 calls (KBH100417C00017500, $0.75, down $0.05)
April 17.50 puts (WAG100417P00017500, $0.85, up $0.05)
Action: You guess is as good as our but we would lean towards the put side. However, this may offer a good opportunity for a straddle option trade. The market is pricing a 10%+ move in the stock but we don’t think shares are going to make that big of a move.
Sonic (SONC, $11.19, up $0.04)
April 10 puts (ZSQ100417P00010000, $0.15, flat)
Action: Shares of Sonic recently got an upgrade but Sonic seems to be lagging the other fast-food chains. Plus, the winter was terrible and we doubt too many customers waited for the burger chain to roll up on skates to deliver their orders.
General Mills (GIS, $73.34, down $0.30),
April 75 calls (GIS, $0.65, down $0.10)
Action: This could be a flight to safety stock if the market fades from here. The company will report earnings on Wednesday.
Lululemon Athletica (LULU, $33.50, down $1.33)
April 30 puts (QLN100417P00030000, $0.70, up $0.15)
Action: We just don’t trust this stock and it could fall below $30 if it the company disappoints.
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