12:50pm (EST)
NEW TRADES!!!
PowerShares QQQ (QQQQ, $45.79, up $0.61)
Buy to OPEN July 45 puts (QQQQ100717P00045000, $1.50, down $0.45)
Action: We are going to pull the trigger here. Use limit prices of $1.50-$1.60 but do not pay over $1.75 for these options.
F5 Networks (FFIV, $68.86, up $1.10)
Buy to OPEN July 60 puts (FFIV100717P00060000, $1.85, up $0.10)
Action: What goes up must come down. We loved playing this high flyer on the way up now we are looking for a pullback. Volume is exploding so use limit prices of $1.85-$1.95.
CURRENT TRADES
Moody’s (MCO, $19.79, up $0.49)
July 18 puts (MCO100717P00018000, $1.00, down $0.40)
Entry Price: $1.10 (6/1/10)
Exit Target: $2.20+
Return: -9%
Stop Target: 55 cents
Action: For those of you who missed getting in yesterday here’s your chance to get even better prices.
Qualcomm (QCOM, $35.76, up $0.69)
July 34 puts (QCOM100717P00034000, $1.05, down $0.25)
Entry Price: $1.08 (6/1/10)
Exit Target: $2.00+
Return: -3%
Stop Target: 50 cents
Action: Another opportunity to get in this one before the stock heads to $30.
Wells Fargo (WFC, $28.78, up $0.55)
June 25 puts (WFC100619P00025000, $0.20, down $0.10)
Entry Price: $0.73 (5/25/10)
Exit Target: $1.50
Return: -73%
Stop Target: None
Action: We know it looks scary but shares are still below their 200-day average. We need a little help because these options expire in 16 days but a sell-off could easily push these options into positive territory.
SanDisk (SNDK, $46.33, up $1.33)
July 34 puts (SNDK100717P00034000, $0.90, down $0.10)
Entry Price: $1.50 (5/10/10)
Exit Target: $3.00
Return: -40%
Stop Target: $1.10, none
Action: The puts are holding up well despite the stock’s 3% pop. Continue to hold.
Other 2010 Portfolio OPEN positions (3): 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. Many of these trades are months old so new subscribers should not be in them. We are still keeping track of the trade and we will record the results, accordingly, when we close them or they expire. Click on the 2010 Portfolio link in the Members Area to view ALL open/ closed trades.
A123 Systems, Berkshire Hathaway Class B and Vale.
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 or because we are waiting for better entry prices. We will not list entry prices because these stocks are on the verge of breaking out or they could selloff.
Apollo Group (APOL, $51.61, up $0.21)
July 45 puts (APOL100717P00045000, $1.85, down $0.10)
Action: Continue to watch.
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