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Wednesday Virtual Portfolio Moves

November 28th, 2007 at 9:30 am | Permalink   edit   copy

GS - gosh I wouldn’t be putting them… I guess you could take the opportunity to roll them higher but I think you are better off selling someone else the $200 puts and using that $6 (guess) to put yourself in the Jan $210 or $220 puts. If GS comes down soon, you can always adjust and, if they don’t, you’ll be damn glad you hedged.

It’s always good to sell calls into the initial excitemnent. Just remember, you can always sell 1/3 or 1/2 of 3/4, you don’t have to make all or none decisions all the time and I think 13,150 will be very tough to break without a firm test of 13,000 again.

AMZN - I’m having trouble getting good data on the Kindle. It was really a stealth product for them and could be quite the game changer. We know they are capable of mid $90s and the premiums are pretty good so I like the Jan ‘10 $70s for $35, selling $90s for $2+ but no hurry. This is a grind-out slow play but I think AMZN is safe up here and will make a nice income producer. Rolls down are $5 so every 2 sales buys you a bracket if you need it. XXX

BIDU - too dangerous to play with lately.

November 28th, 2007 at 9:41 am | Permalink   edit   copy

C is flying!

FXI looking like it’s taking off (so much for shorting BIDU!)

OIH - I wonder if that’s a defect we can buy into? Energy in general very weak but I wonder how many sell programs OIH just tripped? Yes, I have the Debit spread of the $170s and the $180s but there’s no price advantage to me taking him out right now but I will set a stop on my $180 caller at $9 in case it breaks back up.

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