Tuesday Virtual Portfolio Moves

GENZ – I still have some $67.50s left but I sure wasn’t expecting to get my nickel back at this point.

FWLT $10KP- in 3 at $8.20 on the Jan $95 puts, sold 3 June $100 puts for $2.25, will roll to the $95 puts if it backs off from here.

DIS DISturbing but I still believe.

FWLT – might have been too early selling June puts but should be ok if the market stays strong.

AMHY is no trade because the premiums aren’t coming in. Unless I see a sale for $2 or more on the July $7.50s I have no reason to own this stock at $8.23 XXX

DIS – made offer of .40 on 20 July $37.50s for the $10KP XXX Intent is to sell half at .55 or .60, possible DD if it drops but that would have to be a nasty drop I think.

FIZ – offering to sell 4 July $15s at $2 in $10KP XXX

GOOG – $490 was my expected run-up this morning so don’t get too excited. If the market doesn’t hold up then Google won’t either so we execute the second leg of the trade up here as we have no issue rolling to the upside but big problems if it drops out on us. XXX

So much for shorting AMZN!

MU giving us a good entry.

FWLT – Good play MJ! I’m deciding now that I am stuck with the $100 puts. Most likely I will just wait and roll to July $95 puts if it keeps going down (might bounce off $100) but I’ll keep them in a good market.

Oil down $1.57 to $63.62. Don’t forget TSO splits tonight.

GOOG – blasted through $490 so we can afford to wait a little longer but I will sel if it crosses back under.

Wow, did someone actually think twice before paying $167 for RIMM???

Don’t blame the dollar for hurting oil – it’s down.

TSO madness never ends!

MRVL having a good day.

FIZ July $15s just sold (4 at $2) on the spikette. I don’t think I’ll sell more unless they fail $16.

GOOG – no as I already have the stock as well as Sept $510s so no point in adding that for myself but I am doing the second leg against those stock positions (executing soon if we don’t kick $492. I can’t believe not one person took that trade! I’m going to track it but it’s hard to guage an entry if no one bought it…

MDR making a tempting put at $75.

Posted May 29, 2007 at 11:40 am | Permalink (Edit)

Oil down $1.73 now, TSO still in fantasy land (rooming with BTU).

ONXX – maybe just a flush?

Good call Msquare. Weak oil makes for a tough market any time but sad rejections for Nas and S&P. Rising rates aren’t helping either – all this M&A uses up a lot of capital and supply and demand kick in. 2 year notes went off at 4.886% with pretty light demand on $18Bn, tomorrow is the 5 year which might break 4.95% and spook the market.

Oil now down $2!

DIA – they must be rolled very soon. DIS – got mine too, hope I’m not sorry – makes for a heavy concentration with TWX.

Energy – it tells me these people are clueless! If the data comes in bad this week they could be in for a hell of a fall. Tell me you wouldn’t lighten up on TSO’s split tomorrow, even if you were bullish?

GOOG – I’ll be very surprised if they break $500 by the 15th so selling $490s for $9.30 is a pretty good bet if you have reasonable coverage but this is one dangerous stock!

As to positions. GOOG is in my retirement account, those aren’t in my active virtual portfolio but the 10 Sept $510s are in the STP now that I’ve closed out what was a seperate Google tab to keep track of the last bunch of trades. I’ve had protects on my stock since the last time they ran to $490 after almost throwing up when it dropped to $440 in Feb so the only question for me was how much could I get for the $490s and $10 was plenty for me today.

JDSA got hammered today, don’t think they deserved it but not going to risk it. I was worried it would hurt Fiz but not so far…

MU – I’m sure I did that on Friday.. Good unit growth in general and very low expectations as everyone thinks DRAM pricing is off a cliff an not coming back but I’m not buying the perma-glut theory. Even if there is a glut, Micron is a top-notch producer and can squeeze their suppliers but none of that is the point. I like MU BECAUSE it’s flat and will likely remain flat for a while while I sell very expensive calls against it month after month without getting called away.

SU – my Sept $75 puts are still just $1.35. XXX

MDR Aug $75 puts for $4.50 if I can get it, selling the Jun $75 puts for $2 (if oil recovers to -$2, now -$2.50). 2 for the $10KP XXX – (AH note, never filled)

BRCM flying, rumor settlement with QCOM. July $32.50s at .95 XXX just in case it happens.

Posted May 29, 2007 at 2:26 pm | Permalink (Edit)

Possible next leg down for oil after NYMEX close if they can’t close over $63.

FXI – we did buy puts. Have to give up if it breaks $110.75 I think as the momentum is lost but I’m hoping this was just a bounce.

Check out the delayed action on DWA a week after Shreck. I expect the same from DIS.

BRCM/MDR – right, not chasing them, too risky.

YRCW on the move, June $40s are still cheaper than my original .95 entry at .90, were $1.20 on Fri so that’s a good 1/2 out spot. XXX

Don’t forget when you watch oil experts on CNBC that this is the same station that paraded realor “experts” on every day during the housing bubble to tell you there was no bubble and homes were still selling like hotcakes.

Oil got REALLY popular at $62.60 at 1:50pm when suddenly everyone had to have some for 25 minutes so it could finish at $63.30.