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Wednesday Virtual Portfolio Moves

By phil
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Posted April 11, 2007 at 9:56 am | Permalink (Edit)
RIG will make money this year no matter what happens and are way down from last May’s high of $90. Aug $85s are $5 and let you sell May $85s for $2.25 but only if you have to (maybe a $1.75 sell stop).
If TSO is worth $110 then VLO is worth $90 – it’s a totally superior company in every category and it’s silly to think they won’t be shipping gasoline out west to make and extra $10 per barrel on the crack. VLO is up at it’s highs but that certainly never bothered TSO and there’s a day trade on the $67.50s for $1 but the Jun $70s at $2.35 would do well on a breakout.

HAL is down from $40 this time last year so the May $32.50s are a reasonable gamble at $1.25

Posted April 11, 2007 at 10:08 am | Permalink (Edit)

GFI – LOL, stick around long enough and anything can happen. Which reminds me, we should look at GDX, which has nice $1 brackets to sell into so I’m going to take some Jan ‘09 $43s for $7 and sell the May $43s for $1.20 or better, no less than $1 (.20 Tstop)

Posted April 11, 2007 at 10:43 am | Permalink (Edit)

Mattress – absolutely but you’re a bit late. DIA May $125s up a dime at $1.55, if we need level 2 we trigger a buy of 1/2 the number of $124 puts at $1.50 and set a $1.75 stop on the $125s and then pretty much repeat that cycle on the way down with .25 trailing stops.

Posted April 11, 2007 at 10:46 am | Permalink (Edit)

Oh I can’t wait for DIA May $124 puts, going to pick up some at $130 with $1.20 stop. XXX

Posted April 11, 2007 at 10:48 am | Permalink (Edit)

$10KP BIDU selling the Apr $100 for $2 on that remaining open position – good idea Daveo

Posted April 11, 2007 at 11:07 am | Permalink (Edit)
IGW (SOX ETF) May $60 puts are .95 and were $1.90 less than 2 weeks ago.
Posted April 11, 2007 at 1:36 pm | Permalink (Edit)
RIMM is a total gamble on earnings so there is no “saving” that position, it’s all or nothing on earnings – don’t delude yourself that you’re not just making another bet as that .60 will go to zero as easily as the $1.60 went to .60 (that being said, of course I DD’d at .60).
TGT – doesn’t anyone use stops around here? To save that postion buy the May $60s for $1.72 in an equal amount to the May $65s and sell the amount of the May $65s in Apr $60s for .85. If it goes down, you can stop out of the May $60s at $1.55 and be left with the May $65s at a .60 reduced price. If it goes up, your May $60s cover the rise in the Apr $60s and your $65s recover. If it stays flat you are a big winner as your May $65s should hold up as will the May $60s but you will collect .85.
Posted April 11, 2007 at 2:08 pm | Permalink (Edit)
Fed says stagflation but with lots of other words. Bye bye transports. Bye bye Dow….

This puts the Fed in an uncomfortable pause. They can’t cut rates but they must cut rates re. inflation and to sell TBills – must sell close calls against LTP!!! XXX

Posted April 11, 2007 at 3:42 pm | Permalink (Edit)
SU (and I am not joking) is up on the TBoone appearance – he is the pumper in chief for that company, expect him to talk about it being the only secure, viable source of North American oil.
BSX going nuts – have to take out caller at .45
Posted April 11, 2007 at 3:51 pm | Permalink (Edit)

Out of BSX at .85

 

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