Here’s a quick review of my intended adjustments to the LTP:
| Description | Qty | Basis | Current Price / Target Plan | |
| Jan 2009 95 CALL [BA @ $96.94 $1.35] | 40 | $12.60 | $14.80 | Fly Naked! |
| Jan 2008 17.5 CALL [BSX @ $13.85 $-0.29] | 20 | $1.00 | $0.25 | That WAS the bounce – dead stock |
| Jan 2008 17.5 CALL [CC @ $8.32 $-0.25] | 40 | $0.70 | $0.00 | Deader than Dead |
| Jan 2008 22.5 CALL [CC @ $8.32 $-0.25] | 40 | $1.10 | $0.00 | Deader than Dead |
| Jan 2008 37.5 CALL [CHK @ $38.39 $0.79] | 20 | $1.35 | $2.65 | Hurricane Insurance |
| Mar 2008 30 CALL [CY @ $32.94 $2.03] | 20 | $3.30 | $5.20 | We got our good news – let it ride |
| Jan 2009 43 CALL [GDX @ $47.40 $0.94] | 5 | $2.30 | $10.40 | Rolling to 20 $48s/ Selling 49s soon |
| Jan 2009 17.5 CALL [MOT @ $19.31 $0.01] | 50 | $1.25 | $3.85 | Nov $20s at .60 |
| Jan 2009 25 CALL [MRVL @ $17.91 $0.43] | 30 | $0.35 | $1.30 | Ready for lift-off I hope! |
| Jan 2008 12.5 CALL [MTU @ $8.88 $0.11] | 30 | $0.72 | $0.00 | Dead |
| Jan 2008 7.5 CALL [SCI @ $13.50 $-0.03] | 10 | $2.15 | $5.90 | Will convert to stock |
| Jan 2009 25 CALL [STX @ $27.40 $0.39] | 20 | $5.90 | $5.80 | New |
| Jan 2008 150 CALL [AAPL @ $173.50 $0.75] | 60 | $16.80 | $31.10 | |
| Nov 150 CALL [AAPL @ $173.50 $0.75] | -60 | $9.10 | $26.70 | Waiting for earnings |
| Jan 2010 150 CALL [AAPL @ $173.50 $0.75] | 10 | $35.00 | $60.70 | |
| Nov 165 CALL [AAPL @ $173.50 $0.75] | -10 | $2.00 | $15.75 | Waiting for earnings |
| Jan 2008 175 CALL [AAPL @ $173.50 $0.75] | 160 | $4.40 | $16.25 | |
| Nov 170 CALL [AAPL @ $173.50 $0.75] | -160 | $1.72 | $12.75 | Waiting for earnings |
| Jan 2009 60 CALL [AXP @ $58.66 $-1.42] | 10 | $8.70 | $8.40 | |
| Oct 60 CALL [AXP @ $58.66 $-1.42] | -10 | $1.60 | $0.20 | Hoping for bounce |
| Jan 2010 30 CALL [BMY @ $29.58 $-0.25] | 15 | $2.40 | $3.65 | |
| Oct 30 CALL [BMY @ $29.58 $-0.25] | -15 | $0.55 | $0.05 | Expecting good earnings |
| Jan 2009 15 CALL [BSX @ $13.85 $-0.29] | 50 | $2.00 | $2.20 | |
| Oct 12.5 CALL [BSX @ $13.85 $-0.29] | -50 | $0.75 | $1.45 | Disaster – roll to Nov $12.50 |
| Jan 2008 17.5 CALL [BSX @ $13.85 $-0.29] | 20 | $1.00 | $0.25 | |
| Oct 12.5 CALL [BSX @ $13.85 $-0.29] | -20 | $0.75 | $1.45 | Disaster – roll to Nov $12.50 |
| Jan 2009 55 CALL [C @ $43.83 $-0.83] | 20 | $0.60 | $1.80 | How low can it go? |
| Oct 47.5 CALL [C @ $43.83 $-0.83] | -20 | $1.20 | $0.03 | $45s for $1 (roll down if bad(er)) |
| Jan 2009 80 CALL [CAT @ $77.66 $0.53] | 20 | $11.75 | $10.35 | |
| Jan 2008 80 CALL [CAT @ $77.66 $0.53] | -20 | $2.50 | $4.20 | Rolling to Nov $75 (better premium) |
| Jan 2009 45 CALL [COH @ $42.70 $-0.40] | 10 | $4.92 | $6.90 | |
| Oct 42.5 CALL [COH @ $42.70 $-0.40] | -10 | $1.00 | $0.55 | Wait for next week (hope it’s pinned) |
| Jan 2009 55 CALL [HPQ @ $52.87 $0.33] | 10 | $6.00 | $6.80 | |
| Oct 52.5 CALL [HPQ @ $52.87 $0.33] | -10 | $0.55 | $0.55 | Going naked for earnings |
| Jan 2009 65 CALL [JNJ @ $64.90 $0.05] | 10 | $3.55 | $5.60 | |
| Oct 65 CALL [JNJ @ $64.90 $0.05] | -10 | $1.30 | $0.15 | Nov $65s at $1.02, stop at $1.25 |
| Jan 2008 35 CALL [M @ $31.38 $-0.38] | 20 | $2.65 | $1.55 | |
| Oct 35 CALL [M @ $31.38 $-0.38] | -20 | $1.05 | $0.05 | Nov $32.50 at $1.30 |
| Jan 2009 50 CALL [MCO @ $47.10 $-0.20] | 10 | $6.60 | $7.70 | |
| Oct 45 CALL [MCO @ $47.10 $-0.20] | -10 | $2.80 | $2.20 | Nov $45s at $3.90 |
| Jan 2009 50 CALL [MDT @ $48.94 $-0.78] | 10 | $7.00 | $5.50 | |
| Oct 50 CALL [MDT @ $48.94 $-0.78] | -10 | $0.75 | $0.10 | Hoping for a bounce |
| Nov 20 CALL [PGR @ $18.63 $-0.23] | 30 | $2.75 | $0.20 | Triple Down at .20 (for fun) |
| Oct 20 CALL [PGR @ $18.63 $-0.23] | -30 | $0.50 | $0.05 | Dead |
| Jan 2009 30 CALL [SBUX @ $26.66 $0.26] | 20 | $3.40 | $2.70 | |
| Oct 27.5 CALL [SBUX @ $26.66 $0.26] | -20 | $0.70 | $0.05 | Waiting |
| Jan 2009 25 CALL [SBUX @ $26.66 $0.26] | 40 | $3.45 | $5.10 | |
| Oct 27.5 CALL [SBUX @ $26.66 $0.26] | -40 | $0.95 | $0.05 | Taking this off Table (adj. double) |
| Jan 2009 25 CALL [SBUX @ $26.66 $0.26] | 10 | $5.70 | $5.10 | |
| Oct 27.5 CALL [SBUX @ $26.66 $0.26] | -10 | $0.70 | $0.05 | I say they break $30 by Dec |
| Jan 2009 15 CALL [SHFL @ $14.50 $-0.11] | 20 | $3.20 | $3.10 | |
| Oct 15 CALL [SHFL @ $14.50 $-0.11] | -20 | $1.25 | $0.05 | This has to be a floor! |
| Jan 2009 20 CALL [SHFL @ $14.50 $-0.11] | 20 | $2.30 | $1.40 | |
| Oct 15 CALL [SHFL @ $14.50 $-0.11] | -20 | $0.60 | $0.05 | I’m giving them some time. |
| Jan 2010 60 CALL [SNDK @ $50.31 $1.24] | 10 | $1.10 | $11.00 | |
| Oct 50 CALL [SNDK @ $50.31 $1.24] | -10 | $2.00 | $2.55 | I LOVE this stock! Wait for bounce. |
| Jan 2008 15 CALL [TASR @ $16.51 $-0.18] | 100 | $1.23 | $3.00 | Taser will outperform GOOG in ’08 |
| Oct 17.5 CALL [TASR @ $16.51 $-0.18] | -100 | $1.20 | $0.05 | Will have to go longer, not selling. |
| Jan 2009 35 CALL [TXN @ $34.40 $-0.63] | 20 | $0.85 | $4.85 | |
| Nov 35 CALL [TXN @ $34.40 $-0.63] | -20 | $1.80 | $0.98 | Going well |
| Jan 2009 75 CALL [UTX @ $77.43 $0.63] | 15 | $6.00 | $11.10 | |
| Nov 80 CALL [UTX @ $77.43 $0.63] | -15 | $2.25 | $1.20 | On target |
| Jan 2008 60 CALL [WFR @ $62.38 $-0.63] | 10 | $1.10 | $7.50 | |
| Nov 65 CALL [WFR @ $62.38 $-0.63] | -10 | $3.00 | $3.00 | On target |
| Jan 2010 70 CALL [WFR @ $62.38 $-0.63] | 20 | $1.30 | $15.90 | |
| Nov 65 CALL [WFR @ $62.38 $-0.63] | -20 | $3.00 | $3.00 | On target |
| Jan 2009 50 CALL [WMT @ $45.89 $-0.10] | 20 | $3.65 | $3.60 | |
| Nov 45 CALL [WMT @ $45.89 $-0.10] | -20 | $3.10 | $1.95 | If they break $47.50, Roll to $47.50s |
| Mar 2008 310 PUT [BIDU @ $320.00 $3.80] | 5 | $48.90 | $48.70 | |
| Oct 310 PUT [BIDU @ $320.00 $3.80] | -5 | $21.00 | $2.85 | I LOVE this stock! |
| Jun 2008 52 PUT [QQQQ @ $53.78 $0.23] | 100 | $2.50 | $2.80 | |
| Nov 52 PUT [QQQQ @ $53.78 $0.23] | -100 | $1.15 | $0.62 | Holding naked for weekend at least |
| Jan 2008 95 PUT [XOM @ $95.05 $0.25] | 400 | $5.44 | $4.40 | |
| Oct 95 PUT [XOM @ $95.05 $0.25] | -400 | $1.20 | $0.50 | Tight stops today, then naked |
On SNDK, for example, when I say wait for bounce, I mean before selling new calls. As to existing callers that get toasted, well I think many of you have learned on both sides this week why Rule #1 is "ALWAYS sell into the initial excitement" and how that applies to taking out your putters and callers as well.
