1:05pm (EST)
General Mills (GIS, $72.50, up $1.07)
April 75 calls (GIS100417C00075000, $0.30, down $0.40)
Entry Price: $0.60 (3/23/10)
Exit Target: $1.20
Return: -50%
Stop Target: None
Action: Shares we over $74 last night which teased us and we still have value left in these calls despite today’s drop. This tells us General Mills could reverse and continue to challenge its 52-week high. Since we knew going in that we would not be carrying a stop we will keep this one open.
Best Buy (BBY, $41.54, up $0.03)
April 41 calls (BYY100417C00041000, $1.75, up $0.03)
Entry Price: $1.10 (3/18/10)
Exit Target: $2.20
Return: 59%
Stop Target: $1.25
Action: Best Buy has finally turned positive and will report earnings before the bell. We think they will report a solid quarter and business was brisk over the holidays for them. We are going to leave this one open but you could sell half to take some of the risk out of holding through earnings. This limits your possible gains but it also protects you in case Best Buy disappoints.
Akamai Technologies (AKAM, $31.48, down $0.04)
April 32 calls (UMU100417C00032000, $0.80, down $0.02)
Entry Price: $1.22 (3/17/10)
Exit Target: $2.45
Return: -34%
Stop Target: 60 cents
Action: Continue to hold.
SanDisk (SNDK, $35.36, up $0.53)
April 36 calls (SWF100417C00036000, $1.25, up $0.25)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: 7%
Stop Target: 50 cents
Action: Continue to hold.
Bucyrus International (BUCY, $68.38, down $0.74)
April 70 calls (HIK100417C00070000, $2.10, down $0.30)
Entry Price: $1.60 (3/11/10)
Exit Target: $2.40, raise to $3.20 (closed half at $2.40 on 3/23/10)
Return: 41%
Stop Target: $1.25
Action: Continue to hold the other half.
EMC (EMC, $18.91, down $0.03)
April 19 calls (EMC100417C00019000, $0.40, flat)
Entry Price: $0.55 (1/19/10)
Exit Target: $1.00
Return: -27%
Stop Target: $0.25
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 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, $81.60, down $0.73), TiVo (TIVO, $16.70, up $0.53), Shuffle Master (SHFL, $8.00, down $0.08)
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.
Oracle (ORCL, $25.85, down $0.14)
April 26 calls (ORQ100417C00026000, $0.66, up $0.02)
Action: Over 7,000 contracts have traded hands so far and we are already in bed with Best Buy until the morning. If we weren’t, we would be swinging the bat.
Red Hat (RHT, $30.70, up $0.53)
April 32.50 calls (RHT10041700032500, $0.76, up $0.16)
Action: Lots of action in this one too.
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