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Thursday Virtual Portfolio Moves

November 1st, 2007 at 9:42 am | Permalink   edit

UTHR - and to think yesterday we were worried about the low end of the spread! The whole trade can be cased out up $3,600 and that’s plenty for the $10 and $25KP, it’s not worth finessing at this point, we could just buy some $85 puts, now $1.65, for the pullback but I’m happy where we are. XXX

November 1st, 2007 at 9:51 am | Permalink   edit

XOM/TSO - where were you for the past few weeks? Now it’s a little later - not terribly so but I wouldn’t want to chase things down today.

BIDU massively unrealistic! $360 puts back at $11, I’m bidding $10 and, unless the Dow bounces back to 13,800, I will just keep rolling up!

Posts - I did Mr. S but I was sidetracked today, we can talk about them this evening assuming there’s still a market to talk about.

CROX - doing nothing is the move for now if you can’t afford to roll but rolling to 2x the $60 puts at $8.60 and selling 2X the $55 puts at $3.60 is the correct move (but you need to lay out $6.50 per current contract). XXX

November 1st, 2007 at 10:10 am | Permalink   edit

C is trading like it’s the end of the world! I’d love to buy them here but this is an astounding sell-off and they blew right through the 5% rule at $38.90 so we should really wait for them to test that first. BAC popping back already, this is one of those best-case scenarios for my BAC 15% play as we get to take out a caller early and maybe get another sale for November.

ISM Manufacturing just 50.9, also very low and prices paid up from 59 to 63, that’s massive infaltion and manufacturing slowdown = STAGFLATION!

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