ICE $140 puts at $2.75 as a mo with a .50 Tstop. XXX
Nuts – post broke out of QQQQ $47 puts at .97, will roll to july if it heads down. XXX
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.
Happy to get $2 for my DIA $136 puts, moving to July $135 puts at $2.40 XXX
NOVC huge deal not optionalble but a mo buy at $14!
Oops! Went up $1.20 as I posted it… LOL
COH – nice one, worth a chance on the July $52.50s for $1.15 XXX
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
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.
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).
ESLR moving off the floor, worth a shot at the Jan $7.50s for $1.92, eventually selling Julys for the premium. XXX
