9:05am (EST)
Moody’s (MCO, $19.30, down $1.20)
July 18 puts (MCO100717P00018000, $1.40, up $0.40)
Entry Price: $1.10 (6/1/10)
Exit Target: $2.20+
Return: 27%
Stop Target: 55 cents
Action: The July options have 44 days before they expire. Moody’s will be front and center today as testimony is already underway on the financial crises from a couple of years ago.
Qualcomm (QCOM, $35.07, down $0.49)
July 34 puts (QCOM100717P00034000, $1.30, up $0.35)
Entry Price: $1.08 (6/1/10)
Exit Target: $2.00+
Return: 20%
Stop Target: 50 cents
Action: The puts opened at $1.08 which was within our limit range and traded up to $1.17. They fell back to 95 cents before ending the day with a nice pop. We think Qualcomm could test $30 over the next six weeks.
Wells Fargo (WFC, $28.23, down $0.46)
June 25 puts (WFC100619P00025000, $0.30, up $0.05)
Entry Price: $0.73 (5/25/10)
Exit Target: $1.50
Return: -59%
Stop Target: None
Action: Continue to hold.
SanDisk (SNDK, $45.00, down $1.62)
July 34 puts (SNDK100717P00034000, $1.00, up $0.30)
Entry Price: $1.50 (5/10/10)
Exit Target: $3.00
Return: -33%
Stop Target: $1.10, none
Action: 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, $51.40, down $1.76)
July 45 puts (APOL100717P00045000, $1.95, up $0.30)
Action: Continue to watch.
PowerShares QQQ (QQQQ, $45.18, down $0.42)
July 45 puts (QQQQ100717P00045000, $1.95, up $0.35)
Action: We wanted to get into these options at $1.25 but they didn’t trade down to this level yesterday.
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