Please remember, ALL “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any trades or “Exit Orders” in your brokerage account unless we list one. We will send out a “Profit Alert” or “Trade Update” if we want you to close a position OR if a new trade comes out. Otherwise, follow instructions at all times in the 9am and 1pm updates. Also, we will usually give you a heads-up if we think we are going to send an email outside of these time frames but it is rare that we do.
1:30pm (EST)
Pepsico (PEP, $63.05, up $0.43)
July 65 calls (PEP120721C00065000, $1.15, up $0.15)
Entry Price: $0.95 (3/6/12)
Exit Target: $1.50-$2.00
Return: 21%
Stop Target: 50 cents
Action: We would like to see a close above $63 today.
Clean Energy Fuels (CLNE, $21.29, up $0.93)
June 25 calls (CLNE120616C00025000, $1.00, up $0.25)
Entry Price: $0.50 (3/6/12)
Exit Target: $1.00 (closed half position at $1.00 on 3/8/12)
Return: 100%
Stop Target: 50 cents
Action: Continue to hold the other half.
Silver Wheaton (SLW, $36.12, up $0.75)
April 42 calls (SLW120421C00042000, $0.40, up $0.05)
Entry Price: $1.00 (3/1/12)
Exit Target: $1.50-$2.00
Return: -60%
Stop Target: 50 cents
Action: Continue to hold.
Adobe Systems (ADBE, $33.00, up $0.59)
April 35 calls (ADBE120421C00035000, $0.70, up $0.15)
Entry Price: $0.75 (2/28/12)
Exit Target: $1.50
Return: -7%
Stop Target: None
July 38 calls (ADBE120721C00038000, $0.75, up $0.10)
Entry Price: $0.70 (2/28/12)
Exit Target: $1.40
Return: 7%
Stop Target: None
Action: Shares have traded to $33.15 today. Continue to hold.
Sony (SNE, $20.37, down $0.05)
April 22 calls (SNE120421C00022000, $0.35, flat)
Entry Price: $0.90 (2/27/12)
Exit Target: $1.60
Return: -61%
Stop Target: None
Action: Continue to hold.
U.S. Oil Fund (USO, $40.81, up $0.21)
April 45 calls (USO120421C00045000, $0.45, flat)
Entry Price: $0.80 (2/24/12)
Exit Target: $1.60
Return: -44%
Stop Target: None
Action: Continue to hold.
magicJack VocalTec (CALL, $22.76, down $0.88)
June 22.50 calls (CALL120616C00022500, $2.85, down $0.65)
Entry Price: $1.10 (2/15/12)
Exit Target: $2.20 (closed quarter position at $2.10 on 3/1/12, closed quarter position at $3.40 on 3/2/12)
Return: 157%
Stop Target: $2.00 (HARD STOP on other half)
Action: Continue to hold the other half for now and our Hard Stop will take us out if shares continue to pullback.
Our average closing price on the two quarters we closed is $2.75 ($3.40 + $2.10/ 2). The current price on our other half is $2.85 which gives us our total return.
ValueClick (VCLK, $20.50, down $0.25)
June 23 calls (VCLK120616C00023000, $0.50, down $0.05)
Entry Price: $0.40 (2/15/12)
Exit Target: $0.80 (closed half position at $0.70 on 2/29/12)
Return: 50%
Stop Target: 40 cents
Action: Continue to hold.
Other 2012 Portfolio OPEN positions (8): These are trades that are still open in the portfolio that have longer expiration dates or are on “hold” but are not worth mentioning until they turn around. This means we would not open any new positions. We are still keeping track of the trades and we will record the results, accordingly, when we close them or the options expire. Click on the 2012 Portfolio link in the Members Area to view ALL open/ closed trades.
PowerShares QQQ Trust March 60 puts (from February 2012) HOLD
Abercrombie & Fitch March 39 puts (from February 2012) HOLD
Newpark Resources March 10 calls (from January 2012) HOLD
Dendreon May 22 calls (from January 2012) HOLD
OCZ Technology Group March 10 calls (from February 2012) HOLD
Acme Packet March 37.50 calls, April 40 calls (from February 2012) HOLD
Freeport McMoRan March 45 calls (from February 2012) HOLD
Solazyme April 15 calls, March 15 calls (from January and February 2012) HOLD
WATCH LIST SECTION
These trades are NOT recommendations. They are trades that we like but have not added to the portfolio as an official recommendation because of market conditions or because we are waiting for better entry prices. We try not to have more than 12-15 open trades at any one time which is why we created a Watch List. We will not list entry prices because these stocks are on the verge of breaking out or they could sell off.
We will update this section in the morning.
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11:30am (EST)
Clean Energy Fuels (CLNE, $21.20, up $0.84)
June 25 calls (CLNE120616C00025000, $1.00, up $0.25)
Entry Price: $0.50 (3/6/12)
Exit Target: $1.00
Return: 100%
Stop Target: 50 cents
Action: Close HALF of the trade at current levels. We really want to keep this one open but after making 100% in just 2 days, let’s not look a gift horse in the mouth. We have also placed a HARD STOP on the other half of the position which stops us out with at least a 50% profit no matter what happens from here on out.
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9:00am (EST)
Pepsico (PEP, $62.62, up $0.34)
July 65 calls (PEP120721C00065000, $1.00, up $0.05)
Entry Price: $0.95 (3/6/12)
Exit Target: $1.50-$2.00
Return: 5%
Stop Target: 50 cents
Action: Shares traded to a high of $62.74 yesterday and we would like to see a close above $63 today.
Clean Energy Fuels (CLNE, $20.36, up $1.10)
June 25 calls (CLNE120616C00025000, $0.75, up $0.20)
Entry Price: $0.50 (3/6/12)
Exit Target: $1.00
Return: 50%
Stop Target: None
Action: Clean Energy touched $20.43 yesterday and the 52-week high is $20.98 which was set last week. The options reached a high of 80 cents.
Silver Wheaton (SLW, $35.37, up $0.40)
April 42 calls (SLW120421C00042000, $0.35, up $0.05)
Entry Price: $1.00 (3/1/12)
Exit Target: $1.50-$2.00
Return: -58%
Stop Target: 50 cents
Action: Continue to hold.
Adobe Systems (ADBE, $32.41, up $0.42)
April 35 calls (ADBE120421C00035000, $0.55, up $0.05)
Entry Price: $0.75 (2/28/12)
Exit Target: $1.50
Return: -27%
Stop Target: None
July 38 calls (ADBE120721C00038000, $0.65, up $0.05)
Entry Price: $0.70 (2/28/12)
Exit Target: $1.40
Return: -7%
Stop Target: None
Action: Shares reached a high of $32.56 on Wednesday and we would like to see a push towards $34 over the next 2 days.
Sony (SNE, $20.42, up $0.06)
April 22 calls (SNE120421C00022000, $0.35, flat)
Entry Price: $0.90 (2/27/12)
Exit Target: $1.60
Return: -61%
Stop Target: None
Action: A Sony camera could be in the iPad3 which comes out next Friday. Bonus package! Continue to hold.
U.S. Oil Fund (USO, $40.61, up $0.48)
April 45 calls (USO120421C00045000, $0.45, up $0.05)
Entry Price: $0.80 (2/24/12)
Exit Target: $1.60
Return: -44%
Stop Target: None
Action: Continue to hold.
magicJack VocalTec (CALL, $23.64, up $0.51)
June 22.50 calls (CALL120616C00022500, $3.50, up $0.50)
Entry Price: $1.10 (2/15/12)
Exit Target: $2.20 (closed quarter position at $2.10 on 3/1/12, closed quarter position at $3.40 on 3/2/12)
Return: 184%
Stop Target: $2.00 (HARD STOP on other half)
Action: Shares traded to a high of $24 yesterday. Continue to hold the other half for now.
Our average closing price on the two quarters we closed is $2.75 ($3.40 + $2.10/ 2). The current price on our other half is $3.50 which gives us our total return.
ValueClick (VCLK, $20.75, up $0.33)
June 23 calls (VCLK120616C00023000, $0.60, up $0.10)
Entry Price: $0.40 (2/15/12)
Exit Target: $0.80 (closed half position at $0.70 on 2/29/12)
Return: 63%
Stop Target: 40 cents
Action: Continue to hold.
Other 2012 Portfolio OPEN positions (8): These are trades that are still open in the portfolio that have longer expiration dates or are on “hold” but are not worth mentioning until they turn around. This means we would not open any new positions. We are still keeping track of the trades and we will record the results, accordingly, when we close them or the options expire. Click on the 2012 Portfolio link in the Members Area to view ALL open/ closed trades.
PowerShares QQQ Trust March 60 puts (from February 2012) HOLD
Abercrombie & Fitch March 39 puts (from February 2012) HOLD
Newpark Resources March 10 calls (from January 2012) HOLD
Dendreon May 22 calls (from January 2012) HOLD
OCZ Technology Group March 10 calls (from February 2012) HOLD
Acme Packet March 37.50 calls, April 40 calls (from February 2012) HOLD
Freeport McMoRan March 45 calls (from February 2012) HOLD
Solazyme April 15 calls, March 15 calls (from January and February 2012) HOLD
WATCH LIST SECTION
These trades are NOT recommendations. They are trades that we like but have not added to the portfolio as an official recommendation because of market conditions or because we are waiting for better entry prices. We try not to have more than 12-15 open trades at any one time which is why we created a Watch List. We will not list entry prices because these stocks are on the verge of breaking out or they could sell off.
Potash (POT, $43.03, down $0.25)
April 47.50 calls (POT120421C00047500, $0.45, down $0.10)
Thoughts: We said a test to $40 could come so let’s be patient but $42.50 could be a good entry point if shares can stabilize.
First Solar (FSLR, $25.80, down $1.83)
April 25 puts (FSLR120421P00025000, $2.45, up $0.65)
September 18 puts (FSLR120922P00018000, $2.35, up $0.40)
Thoughts: Shares tested a low of $25.50 yesterday. The April 25 put options opened at $1.15 on Monday while the September 18 puts opened at $1.59. If you are in these options start taking quarter or half profits.
Rosetta Resources (ROSE, $50.56, up $1.87)
April 55 calls (ROSE120421C00055000, $1.20, up $0.35)
Thoughts: Very volatile stock and worth watching on a break back above $50.
Market Vectors Gold Miners ETF (GDX, $52.67, up $0.20)
April 58 calls (GDX120421C00058000, $0.55, flat)
Thoughts: A drop below $52 would be bearish but gold did finish higher yesterday.
American Express (AXP, $52.27, up $0.53)
April 52.50 calls (AXP120421C00052500, $1.45, up $0.20)
July 57.50 calls (AXP120721C00057500, $0.90, up $0.10)
Thoughts: We may start nibbling if shares fall to $50.
MGM Resorts (MGM, $13.41, up $0.33)
April 13 calls (MGM120421C00013000, $1.00, up $0.20)
January 20 calls 2013 (MGM130119C00020000, $0.45, up $0.05)
January 17.50 calls 2013 (MGM130119C00017500, $0.90, up $0.10)
Thoughts: Watch for now.
Zynga (ZNGA, $13.77, down $0.28)
September 19 call (ZNGA120922C00019000, $0.90, down $0.10)
Thoughts: Watch for now.
Scientific Games (SGMS, $10.20, up $0.04)
July 12.50 calls (SGMS120721C00012500, $0.35, flat)
April 10 calls (SGMS120421C00012500, $0.70, flat)
Thoughts: This could be our next Weekly Wrap covered call trade.