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Wednesday Virtual Portfolio Moves

Posted May 30, 2007 at 9:36 am | Permalink (Edit)

ICE $140 puts at $2.75 as a mo with a .50 Tstop. XXX

Posted May 30, 2007 at 9:44 am | Permalink (Edit)

Nuts – post broke out of QQQQ $47 puts at .97, will roll to july if it heads down. XXX

Posted May 30, 2007 at 9:49 am | Permalink (Edit)

I was saying that RIMM was holding up, AAPL is a gift after the MER upgrade, GOOG looks strong, MRVL is also a gift as it comes down to $15.60… markets just don’t look that bad yet.

Watching 2,550 on Nas (and grabbing QQQQ July $46 puts, now .88) and 1,510 on the S&P and a lack of 13,500 on the Dow as big danger signs (1 of 3 so far). Add gold $660 to the bench and $480 as a level the SOX must retake and 2,900 on the TRANQ for good measure.

Posted May 30, 2007 at 9:54 am | Permalink (Edit)

Happy to get $2 for my DIA $136 puts, moving to July $135 puts at $2.40 XXX

Posted May 30, 2007 at 10:17 am | Permalink (Edit)

NOVC huge deal not optionalble but a mo buy at $14!

Posted May 30, 2007 at 10:18 am | Permalink (Edit)

Oops! Went up $1.20 as I posted it… LOL

Posted May 30, 2007 at 10:24 am | Permalink (Edit)

COH – nice one, worth a chance on the July $52.50s for $1.15 XXX

Posted May 30, 2007 at 10:28 am | Permalink (Edit)

FWLT – watch the $100 puts if you sold them as this is a chance to buy them back at yesterday’s lows if they fail at $103 again. Double top means we can wait and sell the $95 puts later but if they break up we’ll be really glad we sold the $100s. XXX

Posted May 30, 2007 at 10:37 am | Permalink (Edit)

FWLT flying now, nice Cramer effect! I’m still going to take out the putter at $2.10, will either kill the trade or roll to $100 puts if it keeps going.

Posted May 30, 2007 at 10:47 am | Permalink (Edit)

ICE – hmm, that didn’t go well!

BWLD crashing for no particular reason.

MRVL play:
Buy Jan ‘09 $17.50 for $2.62
Buy Jan ‘08 $15s for $2.48
Sell July $15s at $1.25 against Jan $15s only (.70 premium).

The ’09s act as a stop in case it breaks up too far and by the time your ’08s expire you have free ‘09 calls.

FWLT – I think I may take my .20 loss and go home at this point, that thing does the opposite of whatever I do! I bought out my $100 caller for $2.45 and I am leaving my Jan $95 puts naked out of principal as this stock is simply NOT worth $100 (but neither is TSO so take it for what it’s worth).

Posted May 30, 2007 at 12:02 pm | Permalink (Edit)

ESLR moving off the floor, worth a shot at the Jan $7.50s for $1.92, eventually selling Julys for the premium. XXX

Posted May 30, 2007 at 12:30 pm | Permalink (Edit)
Speaking of shock- TASR going nuts! Picking up July $12.50s for .35 rather than selling the puts. XXX
Posted May 30, 2007 at 12:41 pm | Permalink (Edit)

OIH – I hate to jump right back in again but it is tempting. Having stopped out of these oils I’d just as soon wait for inventory tomorrow rather than take chances.

MRO is a good catch, I’ll take those July $115 puts for $2.10, they were $2.85 this morning! XXX Happy to DD and roll these

Posted May 30, 2007 at 12:56 pm | Permalink (Edit)

COH – you’re welcome, that’s it for now at $1.80 XXX

Posted May 30, 2007 at 2:27 pm | Permalink (Edit)

MO – I got burned on them at the last rumor so I’m just not into them.

When I see a ton of people take a position my best bet is usually the opposite. There’s a fun trade of the July/June $75 puts for 0 which is XXX for 10 in the $10KP.

Posted May 30, 2007 at 2:43 pm | Permalink (Edit)

Massive buy in progress!

Posted May 30, 2007 at 3:15 pm | Permalink (Edit)

Check out my KNOTs! That one was really bothering me.

EBAY is back.

YHOO still dead money taking out 2 of my July $27.50 callers in $10KP at $2.15. XXX

Posted May 30, 2007 at 3:40 pm | Permalink (Edit)

Selling GOOG $500s for $8.40, hopefully not compounding the $2 loss I already took on the $490s (on the other hand the leaps are up nicely). XXX

Posted May 30, 2007 at 3:44 pm | Permalink (Edit)

Taking CHL off the table at $1.85, no sense risking this huge gain into tomorrow – just in case.

 


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