$10KP – This is the end of this $10KP, we start a new one on Monday, open positions will go to the STP with the exception of DNDN which will go to my stock virtual portfolio.
- DNDN – I’m still hoping for a jackpot on the calls but the June $7.50s are .38 so I’ll be selling 1/2 my posiiton in those eventually as that’s a pretty good monthly return on $6.
- EBAY – I think they are pinned so letting the Jun $32.50s ride
- FDX – have to pick a spot to buy out $105 caller.
- GENZ – caller goes worthless have to hope for recovery on J $67.50s
- HLYS – caller deal, Aug looks dead too!
- ICE – cutting it close! $1.25 stop on May caller, now .85
- JDSU – hopeless
- OXPS – holding leaps naked for bounce, will move to LTP
- TASR – holding naked for now. June $10s are .25, sell half at .40
The STP and LTP moves are assuming a flat market. If we have some insane rally I may be more inclined to just raise my DIA protects to $134 or $135 puts but in a drop I will continue to use 20% of profit stops to cut back positions. Positions not mentioned are not changing. Obviously I will try to get a little more or pay a little less for each position but these are the numbers I see right now (6am):
STP
- AUY – DD on Jan ’09 $15s at $2.90
- BBY – sell Jun $57.50s for $1.30
- BIDU – cutting it close on $130 caller, since I will roll not too worried about a run so unless there’s a big move I will ride him out.
- CCJ – I still think it’s pinned
- COP/Other oil puts – I am hoping for a big drop after the holiday weekend so I’m inclined to DD when I get to 1/2
- CSCO – DD at .22
- DIA June $134 puts – I find it very strange that these have not lost more value. I’m inclined to stop out on mo at $1.25 and try to buy $135 puts at the top (maybe $1.50 or less)
- DNA – waiting for a comeback to sell (I hope)
- FIZ – buying Oct $15 for $1.35
- IGW DD at .55
- MRVL – sell June $17.50s into excitement (if any)
- OSK – cutting it close
- QCOM – right on the money
- RIMM – spending $1 to move to June $145 put
- SHLD – selling June $180s for $5 against June $190s ($2, now $1.50) but protected by Sept $195s and Jan $200s (earnings on 5/31)
- SNE – pinned? Buying a few more June $55s at $1.40
- TM – possible roll down to $120 putter?
- TSO – very strange Aug $110 put did not lose money yesterday. Might scalp quick sell of $115 puts if we get a good dip and the premium is > $1
- VIX – selling June $17s for .65
- WFR – spending $2 to move to Jan $60s, selling June $60s for $2.95
- WYNN – need to watch May $95 caller closely
- XOM – might make mo play out of selling $85 puts if it goes higher (I have dead $75 puts)
LTP
- AIG – very unhappy with premiums on short calls – considering killing leaps
- CAT – rolling Jan ’09 $60s to Jan ’09 $75s and selling 1/2 June $75s for $2
- CC selling 1/2 July $15s for $1.45
- COF selling 1/2 June $75s for $3.50 (notice I am in doubt so I’m selling 1/2)
- FXI – must take out May $114 caller – will roll if we close down but not up
- GDX – selling June $40s for .65
- GE – Plastics!
- KO – rolling 10 May $50 at $2.20 caller to July $52.50s at $1.40
- MOT – selling June $19s for .55
- MTU – DD at .50
- PGR – taking out May $20s but waiting for a bounce
- TXN – rolling Jan ’09 $30s at $7.90 to Jan ’09 $40s at $4 and selling June $37.50s for .45
- UNH – selling Jun $55s for $1
- USG – selling June $50 for $1.15
- XOM – forgot I had so many leaps, definately will try to mo play $85 puts on a run (should have done this yesterday!).
Google Virtual Portfolio
- Letting my stock get called away (tying up too much cash)
- May put spread will die with a .50 profit
- That just leaves Jun $500 and Sept $510s, might sell $490s on a run up but have to be > $10
MSFT buying AQNT!!!! Huge news (85% premium), makes Goog look smart. Going to buy MSFT on the dip as they overpay to catch up to GOOG. VCLK is last competitor and $30s could be good mo play (or $35s even). This is why shorting almost anything is so dangerous in this market!
