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Monday Virtual Portfolio Moves

By phil
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Posted April 2, 2007 at 9:41 am | Permalink (Edit)

MRK – if they break $45 we can pick up the $45 calls as a momentum play, currently .80

Posted April 2, 2007 at 9:49 am | Permalink (Edit)
  • $10KP TSO 2 $100 puts – only at $2.05
    • that’s still a very risky play with, perhaps $410 (2 contracts).
Posted April 2, 2007 at 10:13 am | Permalink (Edit)

$44.75 is MRKs retrace line, if they hold that they are probably going higher. It’s a 20% pullback from the $1.30 move from $43.50 to $45 but the 5% rule is $45.65 but I don’t see the overall market strength for it.

Posted April 2, 2007 at 10:16 am | Permalink (Edit)

UNH – I think if MRK breaks up they will do well so I’m not dying to toss them but once they hit .80 we need to set a stop at .75.

Posted April 2, 2007 at 11:31 am | Permalink (Edit)
  • DD on the AIR Aug $35s for .45  
Posted April 2, 2007 at 12:14 pm | Permalink (Edit)
  • UNH $55s – I put a sell in at .85
Posted April 2, 2007 at 1:59 pm | Permalink (Edit)
  • Picked up ICEDV, the ICE $130s at $2.30 just for a quick mo play
Posted April 2, 2007 at 2:18 pm | Permalink (Edit)
  • TSO May $100s at $4.60
Posted April 2, 2007 at 2:44 pm | Permalink (Edit)

I think $3.20 is a fine spot to get 1/2 out with a .40 TS on the rest – out at EOD

Posted April 2, 2007 at 3:56 pm | Permalink (Edit)
  • OIH $145 puts for $2

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