Friday Virtual Portfolio Moves – Now I want Comments on Format!

January 12, 2007

170

OK – that was day one of this test.

It was not too much of a pain in the ass and I came up with a pretty good system but now you need to tell me if it was actually useful to you.

So please let me know if this does the trick and then stage 2 is what to do with this now that the day is over. I’ll think about that tonight.

Notice I switched formats so let me know about that too.

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I’m disturbed by AXP – what the heck kind of rally doesn’t include AXP? Possibly they make a billion a year on gas charges??? Wouldn’t that hurt MA too? Since I already have a put on MA I may as well take a small entry on the AXP Apr $60s for $2.25

Update 10:05 – looking weak, would rather wait…

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Let’s watch our oils

I’m looking to likely sell AAPL Apr $100s against my Julys as protective insurance – in other words, I don’t want to give up the position and I’m going to sell the calls into the weekend with the intention of buying them back on Tuesday and taking the .25-50 hit as "insurance" on my $6.50 position.

10:12 I’m out of my AAPL July $100s befrore they give up $8.50
- 10:19 Oops, Apple NOT hitting my $8.50 sell trigger, options going up – very, very strange!!!
10:17 Z is right the MUR Feb $45s for $1.15 are a much better entry!
10:32 MRVL – sell the Feb $18.75 if they breaks $1.95, that’s the 20% rule and should always be followed when in doubt! Had I followed the rule, I would have been out yesterday with $2.25 on the unexplained dip (now explained).
10:49 DE $95 puts for $1 as a mo play!
11:02 VTS – no TGIC replaced them on the S&P, but Veritas is being delisted – I didn’t know they were bought by someone! Sell them if you still have them – who knows what this means!
11:48 MRVL – as I suspected this morning – the downgrade is an attempt to shake the tree, luckily I kept a low target, I’m taking the sell off them!
11:56 BP – oops, I didn’t update and they went up so fast I had the wrong price. .95 is a great price! If they don’t make $64.50 in the next 30 minutes (europe closing pump) then I will take a double helping at that price, get half out with a quarter or more and apply that to my base so I can ride it out for a while.
12:09 CHKP time to DD on the April $20 puts ahead of earnings offering .25 – still waiting to buy calls, probably Feb $25s for .30
12:15 I already have DELL May $27.50s at $2.10 (up 35%) but that’s a nice pullback! If they hold $26.50 through Monday they could really jump out of the box so I’m going to call a bottom and risk my profits on the Feb $27.50s for .60
12:20HPQ Jan $40s – out at $3.30 (pullback rules!). Will be looking to get back in on Feb $45s on a pullback.
12:22 CAT Feb $60s for $1.60 great deal at the moment!!!
12:23 STZ – gap fill from the 8th taking a DD on the Apr $27.50s for .25 if possible
12:32 MRVL – may $22.50s are a good call at $1.30 and make a good pre-roll for us!
1:12 MW – taking 1/2 MW Feb $40s off at $3.75 (up 178%)
2:11 Out of ALK July $45s for $4.50 (up 30%), questions as to fuel costs, I don’t need to stick around to find out
2:13 AFL – out of May $45 for $4.35 (up 112%) will take May $50s but not now
2:30 COST – Feb $55s at $2 (up 135%) is plenty of money – done!
2:30 DIA – Jan $125s for .85 (up 70%) what a gift! done!’
2:30 GLW – selling Feb $20s for $1.05 against my Mays as weekend protection (when someone wants to pay you 5% a month, say yes!)
I highly recommend our beaten up builder plays to people seeking weekend protection!
2:30 NTES – still liking our March $17.50s at $2.05 (up 11%).
2:47 I will take the SU DD by EOD
~~2:47 RSH – Apr $17.50s done at 2.65 (up 179%) will look at the $20s later~~ BIG MISTAKE (see comments). We had the puts and the position taken out was only the Feb $17.50s sold against for .25 (was .45)!
3:13 AAPL – now I like the April $100s at $6.10 and sell the Feb $100s at $3 or better. The Feb $95s are $4.70, 50% better than your spread and you will hold up better than your caller in a downspike (I am likely to pick up a put just before earnings). You have to be prepared to take the hit and DD on your position if earnings are bad, or percieved bad and you also have to be ready to take out your caller if they are good.
3:58 BP $65 puts – I’m out even – why risk it?