$25KP Review

January 9, 2008

103

We are hanging on by the skin of our teeth and if you started in the beginning and are way ahead, the best thing to do is get to cash if the market so much as flinches down (S&P not breaking 1,400 would be the sign).

So bear (and it’s a big bear now) in mind these are moves for people who want to stay in the game – there is no reason to stay in any position you are not very comfortable with and my concentration here is geared more towards not losing money than trying to "win" this month.

As I said in last night’s comments, we could/should be bailed out by the PPT but if we are not by next Friday things will get very, very ugly (this will look pretty by comparison).

Description

Type

Cost Basis

Opened

Sale Price

Closed

Days

Gain/Loss $ %

AIG

5 MAY 08 60.00 AIG CALL (AIGEL)

LO

$ 2,210.00

12/28/2007

$ 1,650.00

12

$ -560.00

-25.3 %

15 MAY 08 60.00 AIG CALL (AIGEL)

LO

$ 5,805.00

12/28/2007

$ 4,950.00

12

$ -855.00

-14.7 %

So far they have held up well considering, we can get $2 for the $55s and we should on the 15 block if the markets don’t perk up.

$ -1,415.00

-17.7 %

AMGN

10 APR 08 45.00 AMGN CALL (AMQDI)

LO

$ 3,370.00

1/4/2008

$ 4,000.00

5

$ 630.00

18.7 %

10 JAN 08 47.50 AMGN CALL (AMQAW)

SO

$ 620.00

1/8/2008

$ 990.00

1

$ 370.00

37.4 %

These are just right (I hope)

$ 1,000.00

25.1 %

CAKE

10 APR 08 22.50 CAKE CALL (CFQDX)

LO

$ 2,360.00

11/19/2007

$ 700.00

51

$ -1,660.00

-70.3 %

10 APR 08 20.00 CAKE CALL (CFQDD)

LO

$ 2,110.00

1/4/2008

$ 1,500.00

5

$ -610.00

-28.9 %

Let’s spend the .80 to roll the $22.50s down to the $20s and we’ll sell if we have to but I’ll wait a bit.

$ -2,270.00

-50.8 %

DIA

20 FEB 08 128.00 DIA PUT (DAWNX)

LO

$ 6,810.00

1/7/2008

$ 8,900.00

2

$ 2,090.00

30.7 %

20 JAN 08 128.00 DIA PUT (DAWMX)

SO

$ 6,100.00

1/8/2008

$ 4,490.00

1

$ -1,610.00

-35.9 %

We need to roll the putter down to the $126 puts for net $1 if the market breaks below 12,800

$ 480.00

3.7 %

GOOG

5 MAR 08 670.00 GOOG CALL (GOOCN)

LO

$ 27,060.00

12/18/2007

$ 14,800.00

22

$ -12,260.00

-45.3 %

5 JAN 08 670.00 GOOG CALL (GOOAN)

SO

$ 2,100.00

1/8/2008

$ 3,990.00

1

$ 1,890.00

47.4 %

Stop this caller at $5. If we have to re-cover (Goog breaks back below $630) we will sell the $630s for $18 and spend that money to roll ourselves down to March $630s.

$ -10,370.00

-35.6 %

INFY

20 FEB 08 45.00 INFY CALL (IUNBI)

LO

$ 3,870.00

1/2/2008

$ 2,200.00

7

$ -1,670.00

-43.2 %

20 FEB 08 40.00 INFY PUT (IUNNH)

LO

$ 1,930.00

1/3/2008

$ 2,600.00

6

$ 670.00

34.7 %

20 JAN 08 45.00 INFY PUT (IUNMI)

SO

$ 7,400.00

1/3/2008

$ 4,210.00

6

$ -3,190.00

-75.8 %

This is a very bullish earnings play. India is doing well and LEH just upgraded them. I’ll make a stand here and even XXX buying more Feb $45s for $1.20 but it’s a risky play.

$ -4,190.00

-31.7 %

LVS

10 MAR 08 90.00 LVS CALL (LVSCR)

LO

$ 11,010.00

1/4/2008

$ 6,200.00

5

$ -4,810.00

-43.7 %

I hate to lose this and I hate to sell against it but selling 1/2 the $80s for $5 and rolling to the Mar $80s for $4.50 is the way to go if they can’t get back over $85 today.

$ -4,810.00

-43.7 %

NEM

10 MAR 08 47.50 NEM CALL (NEMCW)

LO

$ 4,310.00

12/17/2007

$ 7,400.00

23

$ 3,090.00

71.7 %

10 JAN 08 55.00 NEM CALL (NEMAK)

SO

$ 850.00

1/8/2008

$ 1,340.00

1

$ 490.00

36.6 %

I love gold stocks. They trade for no logical reason. NEM has 94M ounces of gold, it’s theirs, they own it. It costs them less than $300 an ouce to mine it and the rest is profit. The company has a market cap of $24Bn, just $4Bn more than it was trading at in 2004 when gold was $250 an ounce. Expectations (2/21) are insanely low for this unhedged company.

$ 3,580.00

69.4 %

PFE

20 MAR 08 22.50 PFE CALL (PFECX)

LO

$ 3,110.00

11/19/2007

$ 3,100.00

51

$ -10.00

-0.3 %

Supposedlly a "safety" stock. Somehow I don’t feel very safe but I’d buy more on a dip to $22.50. I’d say my goal would be to roll back to the Jun $22.50s, now $1.95 and sell the current ones if they break below $23.50.

$ -10.00

-0.3 %

RIMM

10 MAR 08 100.00 RIMM CALL (RULCT)

LO

$ 16,010.00

12/17/2007

$ 9,350.00

23

$ -6,660.00

-41.6 %

10 JAN 08 105.00 RIMM CALL (RULAL)

SO

$ 1,860.00

1/4/2008

$ 5,090.00

5

$ 3,230.00

63.5 %

Et tu RIMM? Same as the $10KP, take $4.50 for 1/2 the $96s and roll down to the Mar $93s for about $3.

$ -3,430.00

-19.2 %

SHLD

4 MAR 08 105.00 SHLD CALL (KTQCA)

LO

$ 4,650.00

12/18/2007

$ 2,160.00

22

$ -2,490.00

-53.5 %

4 JAN 08 105.00 SHLD CALL (KTQAA)

SO

$ 480.00

12/26/2007

$ 1,590.00

14

$ 1,110.00

69.8 %

I still have hope so a $1.50 stop on the caller and, if it goes lower we sell the $95s, now $4.70 and roll ourselves down to the $95s

$ -1,380.00

-26.9 %

T

10 APR 08 40.00 T CALL (TDH)

LO

$ 3,510.00

12/26/2007

$ 2,150.00

14

$ -1,360.00

-38.7 %

T, how could you?!? I think the sell-off was overdone but I’m not putting more money into it. The $40s aren’t quite worth selling for .75 and I’d rather roll back to the Jul $37.50s, now $4.55 and sell the Feb $37.50s, now $2.85 if it goes below $39.

$ -1,360.00

-38.7 %

Total Gain/Loss

$ -24,175.00

-20.6 %