1:10pm (EST)
Canadian Solar (CSIQ, $23.82, down $0.50)
May 26 calls (GQA100522C00026000, $1.10, down $0.20)
Entry Price: $1.20 (3/30/10)
Exit Target: $2.00-$2.40
Return: -8%
Stop Target: None
Action: Canadian Solar started off higher is now trading lower. We think as money rotates out of sectors this will be one sector that picks back up. Continue to hold.
American Tower (AMT, $43.00, up $0.39)
May 45 calls (AMT100522C00045000, $0.80, up $0.10)
Entry Price: $0.60 (3/29/10)
Exit Target: $1.30+
Return: 33%
Stop Target: None
Action: Shares have traded to a high of $43.29 today and look poised to head back to $45 by next week if the market holds up.
Akamai Technologies (AKAM, $31.57, up $0.15)
April 32 calls (UMU100417C00032000, $0.55, up $0.05)
Entry Price: $1.22 (3/17/10)
Exit Target: $2.45
Return: -59%
Stop Target: 60 cents
Action: Some of you have written in about the stop for this one but we have made it clear we are holding this one open. Yes, we normally have a 50% stop on trades but all trades are different and we try to communicate this. Again, we only need a 10% move to break even and if shares can get to $34 we will have a double. Akamai is an explosive stock and if shares fall below $30 we would close the trade but the strength is still there.
SanDisk (SNDK, $35.10, up $0.47)
April 36 calls (SWF100417C00036000, $0.65, up $0.10)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: -44%
Stop Target: $1.00
Action: The calls have traded to a high of 98 cents today so you can see through this example why we are leaving AKAM open. The April options expire in two weeks which is why these positions are so volatile.
TiVo (TIVO, $16.89, down $0.24)
May 20 calls (TUK100522C00020000, $0.50, down $0.10)
Entry Price: $0.85 (3/5/10)
Exit Target: $1.70
Return: -29%
Stop Target: None
Action: We had a $1.60 stop target listed this morning, please excuse the oversight. When we initiated this position we had no stop. 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, $81.50, up $0.23), EMC (EMC, $18.27, up $0.23), Shuffle Master (SHFL, $8.36, up $0.17), General Mills (GIS, $71.38, up $0.59).
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.
Corning (GLW, $20.45, up $0.24)
August 22 calls (GLW100821C00022000, $0.87, up $0.09)
Action: Looking good…
Research In Motion (RIMM, $69.90, down $4.07)
April 80 calls (RFY100417C00080000, $0.10, down $1.28)
April 70 puts (RFY100417P00070000, $1.70, down $0.20)
April 75 calls (RFY100417C00075000, $0.35, down $2.75)
April 75 puts (RFY100417P00075000, $5.40, up $1.25)
Action: We mentioned when finding straddle or strangle option trades that you need a 10% move in a stock to make some good money. If not, your losses are limited but now you have to continue to work the trade.
The straddle trade priced at $7.30 (April 75 calls opened at $3.90 and the April 75 puts opened at $3.40 on 3/29/10). The strangle option trade priced at $3.45 ($2.05 for the April 80 calls and the April 70 puts opened at $1.40 on 3/29/10).
Garmin (GRMN, $38.90, up $0.27)
May 33 puts (QGR100522P00033000, $0.90, down $0.40)
May 35 puts (QGR100522P00035000, $1.60, down $0.40)
Action: We might get an opportunity to short this one next week.
]]>