Wow did that week fly by!
This was the image I used on Friday morning, the 12th, when I said: "On the whole, it was a mild-low volume pullback but it won’t take much follow-through to send us into a major correction so we need to be vigilant and get ready to move back to cash."
In last week's Wrap-Up we had taken a very bearish stance as I said: "We are back at a pretty comfortable 67% cash position in the STP with just 16 open calls remaining which are evenly matched in number and balance by 16 puts along with 36 spreads. Next week should also be a good week as the premiums on the calls and puts we’ve sold wind down – if nothing else, it should put a great deal more cash in our pockets as we roll to November sales."
Monday I made fun of Paulson's insane plan to throw even more money on the sub-prime fire and I pointed out that commercial lending had fallen off a cliff and that there was "AT LEAST $200Bn in unrecoverable junk on the books that hasn’t hit the fan yet." Due to the way the pundits were praising the banks' crazy scheme to set up a $100Bn fund to bail each other out I warned: "At home, it should be party time in the financial sector as we swallow today’s dose of snake oil, so let’s be very concerned if it’s not. Get set for a wild week, we’ll run down earnings and economic indicators in tonight’s post but, for now, we need to see how the markets digest this latest BS news as we wait to see how the sentiment is going."
Sentiment did NOT go well and we had a huge day as our bearish positions bore fruit and boy were we happy to be in cash, a call I made at 9:38 on the members' site as it only took 7 minutes for us to see that the Treasury plan way too little, far too late. I went over the Turkey situation in member chat and I even gave the short version on the free post as I mentioned how ridiculous the recent run in the oil sector was. My Free Picks that evening were to double down on VNO and BXP puts and, of XOM I said:
"
Once our poor caller expires we’re going to roll our Nov. XOM puts all the way up to $100 and I don’t think I could be more excited about their Nov 1st earnings report – It will be so much fun to hear them explain how they justify a 35% increase in stock price (that’s a $183Bn INCREASE in market cap) when sales are fairly flat and, despite a 40% rise in crude prices, INCOME IS FLAT TO LAST YEAR AND PROJECTED TO BE FLAT NEXT YEAR. Wake up people, this isn’t Google, with infinite growth possibilities; this is a dinosaur legacy company that hasn’t innovated since 1939 (and that innovation was squeezing out their competition when they were Standard Oil) and is profiteering off a war. Sure the war looks like it will last forever but the profiteering won’t. Already PTR and CEO are running around buying up global oil assets AND ACTUALLY PRODUCING MORE OIL, something XOM hasn’t done in 10 years."
XOM was, of course one of our biggest winners of the week (even though our roll only got up to the $95s as they ran out of gas sooner than I thought), our last "Focus Put" to fall and I doubt they are done yet. This was another one of those situations where buying position can be the best strategy when a trade is going against you!
Tuesday morning I asked if the markets could hold on but, as in the image I used, it didn't look likely. I asked the following questions: "Can oil break $88 ahead of an inventory report that is almost certain to show a "surprising" build in crude? Can gold break $800, can the dollar break below 76, can Cramer find a way to tell us he called this correction?" and the answers were yes, no and yes but let's not count gold out just yet! I noted that backwardation at the NYMEX had hit EXTREME levels, indicating (finally) a correction in the making. We also had a free play on ERIC, which worked out as long as you either sold quickly or sold calls as noted.
Tuesday night we had a tech report, chock full of plays that will be real bargains this week but let's remain cautious as I'm not expecting a positive open in the coming week. Wednesday morning started off with Wall Street, as usual, pretending the Core CPI was the real CPI but I noted how much worse this one looked and I warned that buying into the nonsense rally that was shaping up in the pre-markets was "swimming upstream with the other salmon," a statement I accompanied wth this picture for those who don't understand the dangers of doing that. ===>
I also found my favorite video of the week, puppet commentary on the housing market – UK style!
We played Wednesday's action almost perfectly, loading up on the put side into the very brief rally and we detailed the action in the wrap-up, so I won't go over it here. It was all over but the shouting on Thursday Morning as I had to go back to last week's picture of the sinking Titanic as BAC missed, making things much worse than we thought they were (and we thought they were pretty bad!). As I said at the time: "This puts the Fed back on the table which will send the dollar to new all-time lows (it finished yesterday at 78.09) and should reignite our gold plays, which we’ve been pressing during the recent downturn. Oil should get a lift today on the declining dollar but between BAC and the Beige Book, the majors have nothing to celebrate as the greedy energy industry has finally broken the consumer’s back and will now begin to reap what they have sown in the form of demand destruction." I also made one of my most profitable predictions of the week as I pointed out that the China rally was based on a false premise.
Although I said we would go with the flow in the morning as I expected us to hold up for the day, our bias quickly changed and I posted this picture on Thursday's wrap up and said: "We are now officially partying like it’s early January, 2000 (the market collapsed on Jan 18th)." My prediction for the next day was: "Oil flew up over $90 in overnight trading and this will be a game changer tomorrow as earnings are revealing we are past the breaking point where we can pretend the price of oil isn’t going to matter. A declining dollar, renewed terror fears, instability in the Middle East – it’s the same old thing as yesterday but maybe tomorrow it will start to matter."
Friday we did virtual portfolio reviews as there was an urgent need for adjusting and we were far too busy positioning for me to pontificate on the markets. We decided to shut down the Dow Virtual Portfolio, and THANK GOODNESS for that timing as we closed that out with a 30% gain, almost entirely due to the fact that I chose to cover the virtual portfolio with DIA Nov $141 puts, which are the last remaining position and are up $29,490 all by themselves in our $100K virtual portfolio that we began as a public post back on September 26th.
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I had plenty of time for pontificating over the weekend as the program I use to put all my spreadsheets together broke, possibly because the STP broke the 1,000% gain level for the year and threw off the calculator, which gave me errors on Friday. We got it running again last night but I won't be able to finish until tonight as the whole thing threw me way off schedule. I wrote a review of all the signs we saw along the way leading up to this little correction (that we are still in the middle of) as well as a very important article on our hedging strategy, focusing on Friday's VERY profitable mattress plays, which rocketed the virtual portfolio over that 1,000% mark.
One thing I should point out is that we are now making very silly gains in the STP because, now that it is up so much for the year, even playing in 70% cash still leaves 3 times more money in play than we started the year with. That means it only takes a 30% gain in positions in play to add another 100% gain to the overall virtual portfolio performance. This is why all of our virtual portfolios have been accelerating as we've simply had a fabulous year, much of which is detailed in that first weekend post.
As I review these numbers, I urge new members not to expect this kind of performance all the time, it's just been a crazy year and we're very lucky to be here for it but, as Sage points out in his post, there are plenty of very safe ways to get a nice return in any kind of market, we'll enjoy the dip while we can but, rather than looking for a market bounce, perhaps we can look forward to a relatively calm bottom where we can go back to some basic fundamentals, picking some good companies for the longer term.
Meanwhile, the down and dirty on the virtual portfolios is as follows:
Short-Term Virtual Portfolio up 168%, 1,060% for the year.
- Long-Term Virtual Portfolio up 6%, 248% for they year.
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Our 3 new virtual portfolios for the quarter celebrate their one month anniversary in very good shape:
- The $10,000 Virtual Portfolio is the $18,644 Virtual Portfolio, up 86% – holding up flat in last week's action
- The $25,000 Virtual Portfolio is now the $42,884 Virtual Portfolio, up 71% so far.
- Our $100K Dow Virtual Portfolio is at $130,845 with just one position left, the DIA Nov $141 puts. We will roll these to lock in the profits on Monday.
- The Happy 100 Virtual Portfolio is up 4.2%, not to bad for an aggressive virtual portfolio in a down market.
- Our Stock Virtual Portfolio had a great week, up 5% for the week, 46% for the year mainly on Google puts I sold as I would have been very happy to own the stock at $610 but I got the cash instead.
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Complex Spreads gained just 38%, 499% for the year as we were more concerned with protecting our massive Google gains than making a killing on earnings. Now our focus shifts to Apple, who report on Monday's close!
That drop, as expected, hurt our Long-Term virtual portfolio and we need to be very careful there, as the huge increase in the VIX has made our remaining positions look more profitable than they actually are so we need to either cover or simply take bullish plays off the table if we get a lot of follow-through to the downside. Of course, the STP got a huge benefit as that's where we cover the LTP with our index puts while the other virtual portfolios are meant to stand on their own.
As it was an expiration week and we were almost fully covered on all our positions, we had a lot of things to close this week! Add to that the fact that we went to cash and took so much off the table and it was one crazy week – no wonder I was complaining about being buried on Wednesday! We closed 186 positions for the week with an average gain of 119% and a gain on cash of 42% but, as I mentioned above, that's still over 125% of what we started the year with so it's starting to add up fast:
As I said earlier in the week: Wheee, what a ride!
Description
Basis
Open
Sale Price
Sold
Gain/Loss
%
5 JAN 35.00 AA CALL (OKHAG) 4,360.00 9/27 4,240.00 10/18 -120 -3% 5 OCT 37.50 AA CALL (AAJU) 635 9/27 1,340.00 10/18 705 111% 5 NOV 07 70.00 AIG CALL (AIGKN) 160 10/9 790 10/19 630 394% 5 MAY 70.00 AIG CALL (AIGEN) 2,060.00 9/26 1,490.00 10/19 -570 -28% 20 OCT 07 50.00 AKS CALL (AKSJJ) 410 10/12 2,790.00 10/19 2,380.00 581% 10 NOV 07 50.00 AKS CALL (AKSKJ) 3,500.00 10/12 3,890.00 10/15 390 11% 10 JAN 52.50 AMGN CALL (AMQAZ) 3,010.00 9/10 7,990.00 10/16 4,980.00 165% 50 OCT 07 80.00 ANF PUT (ANFVP) 3,510.00 10/12 5,740.00 10/16 2,230.00 64% 10 OCT 07 60.00 AXP CALL (AXPJL) 0 9/25 90 10/19 90 100% 10 APR 60.00 AXP CALL (AXPDL) 4,810.00 9/27 4,990.00 10/19 180 4% 5 JAN 08 100.00 BA CALL (BAAT) 2,810.00 9/26 1,890.00 10/19 -920 -33% 5 OCT 07 100.00 BA CALL (BAJT) 35 10/11 590 10/19 555 1586% 20 OCT 07 100.00 BA CALL (BAJT) 210 10/10 3,990.00 10/15 3,780.00 1800% 10 OCT 07 320.00 BIDU CALL (BDUJC) 0 10/18 8,240.00 10/19 8,240.00 100% 5 OCT 07 310.00 BIDU PUT (BDUVA) 0 10/12 490 10/19 490 100% 20 OCT 07 320.00 BIDU PUT (BDUVC) 18,010.00 10/17 25,990.00 10/17 7,980.00 44% 20 OCT 07 320.00 BIDU PUT (BDUVC) 18,010.00 10/17 27,990.00 10/17 9,980.00 55% 15 OCT 07 310.00 BIDU PUT (BDUVA) 7,960.00 10/11 11,990.00 10/17 4,030.00 51% 15 OCT 07 30.00 BMY CALL (BMYJF) 0 10/8 65 10/19 65 100% 40 OCT 130.00 BSC CALL (BSCJF) 2,010.00 9/7 590 10/16 -1,420.00 -71% 80 OCT 07 50.00 BTU PUT (BTUVJ) 0 10/12 390 10/19 390 100% 20 OCT 07 50.00 BTU PUT (BTUVJ) 0 10/10 190 10/19 190 100% 20 NOV 07 105.00 BXP PUT (BXPWA) 2,810.00 10/4 5,490.00 10/16 2,680.00 95% 20 OCT 07 47.50 C CALL (CJW) 0 10/8 90 10/19 90 100% 10 OCT 47.50 C CALL (CJW) 310 10/1 1,440.00 10/18 1,130.00 365% 10 MAR 47.50 C CALL (CCW) 1,710.00 9/26 1,790.00 10/18 80 5% 5 OCT 07 25.00 CAKE CALL (CFQJE) 60 10/8 190 10/15 130 217% 10 OCT 07 25.00 CAKE CALL (CFQJE) 110 10/8 390 10/15 280 255% 80 OCT 07 80.00 CAT CALL (CATJP) 0 10/5 390 10/19 390 100% 5 JAN 80.00 CAT CALL (VKTAP) 4,510.00 9/26 4,390.00 10/19 -120 -3% 5 OCT 80.00 CAT CALL (CATJP) 0 10/5 1,240.00 10/19 1,240.00 100% 40 OCT 07 45.00 CCJ CALL (CCJJI) 610 10/16 3,990.00 10/19 3,380.00 554% 20 JAN 37.50 CHK CALL (CHKAR) 1,710.00 9/12 5,290.00 10/19 3,580.00 209% 20 JAN 37.50 CHK CALL (CHKAR) 2,710.00 7/9 5,190.00 10/19 2,480.00 92% 20 OCT 07 620.00 CME PUT (CWOVD) 6,750.00 10/18 13,490.00 10/17 6,740.00 100% 10 OCT 07 42.50 COH CALL (COHJV) 0 10/15 40 10/19 40 100% 40 NOV 07 85.00 COP PUT (COPWQ) 7,810.00 10/16 11,590.00 10/19 3,780.00 48% 30 OCT 07 85.00 COP PUT (COPVQ) 2,860.00 10/9 590 10/19 -2,270.00 -79% 20 OCT 07 70.00 CROX CALL (CQJJN) 0 10/18 490 10/19 490 100% 20 OCT 07 65.00 CROX CALL (CQJJM) 2,510.00 9/25 2,790.00 10/19 280 11% 50 NOV 07 90.00 CVX PUT (CVXWR) 8,260.00 10/16 17,490.00 10/19 9,230.00 112% 20 DEC 07 30.00 CY CALL (CYLF) 4,510.00 10/16 4,590.00 10/18 80 2% 20 NOV 50.00 DD CALL (DDKJ) 3,610.00 9/26 690 10/19 -2,920.00 -81% 20 OCT 50.00 DD CALL (DDJJ) 0 9/26 2,290.00 10/19 2,290.00 100% 150 NOV 07 140.00 DIA PUT (DAZWJ) 36,010.00 10/5 67,490.00 10/19 31,480.00 87% 300 NOV 07 135.00 DIA PUT (DAWWE) 60,010.00 10/19 82,490.00 10/19 22,480.00 38% 100 OCT 140.00 DIA PUT (DAZVJ) 27,510.00 10/4 17,490.00 10/19 -10,020.00 -36% 300 NOV 07 137.00 DIA PUT (DAZWG) 60,010.00 10/16 70,490.00 10/17 10,480.00 18% 150 NOV 07 140.00 DIA PUT (DAZWJ) 36,010.00 10/5 55,490.00 10/17 19,480.00 54% 400 OCT 07 139.00 DIA PUT (DAZVI) 20,010.00 10/16 22,790.00 10/17 2,780.00 14% 150 NOV 141.00 DIA PUT (DAZWK) 39,010.00 10/5 53,240.00 10/16 14,230.00 37% 20 JAN 35.00 DIS CALL (DISAG) 2,910.00 9/27 2,990.00 10/19 80 3% 150 OCT 07 7.50 DNDN CALL (UKOJU) 1,660.00 10/10 5,240.00 10/19 3,580.00 216% 20 OCT 07 7.50 DNDN CALL (UKOJU) 230 9/24 290 10/19 60 26% 20 OCT 07 125.00 DRYS CALL (DQRJU) 3,610.00 10/18 5,390.00 10/18 1,780.00 49% 50 OCT 07 120.00 DRYS PUT (DQRVZ) 12,510.00 10/16 27,990.00 10/16 15,480.00 124% 50 OCT 07 42.50 EBAY CALL (XBAJV) 1,510.00 10/17 0 10/19 -1,510.00 -100% 50 OCT 07 37.50 EBAY PUT (XBAVU) 1,510.00 10/17 1,490.00 10/18 -20 -1% 50 OCT 07 40.00 EBAY PUT (XBAVH) 10,760.00 10/17 7,990.00 10/18 -2,770.00 -26% 50 OCT 07 40.00 EBAY CALL (XBAJH) 510 10/17 7,990.00 10/18 7,480.00 1467% 40 OCT 07 32.50 ERIC CALL (RQCJZ) 0 10/16 390 10/19 390 100% 10 OCT 17.50 FNF CALL (FNFJW) 0 9/28 590 10/19 590 100% 10 OCT 17.50 FNF CALL (FNFJW) 0 9/28 590 10/19 590 100% 40 OCT 07 135.00 FSLR CALL (HJQJG) 0 10/1 1,750.00 10/19 1,750.00 100% 20 OCT 07 140.00 FSLR PUT (HJQVH) 2,910.00 10/17 9,990.00 10/18 7,080.00 243% 20 OCT 07 140.00 FSLR PUT (HJQVH) 2,910.00 10/17 5,990.00 10/17 3,080.00 106% 80 OCT 07 145.00 FWLT PUT (UFBVY) 22,260.00 10/5 7,980.00 10/19 -14,280.00 -64% 10 JAN 45.00 GE CALL (WGEAI) 4,210.00 9/26 3,890.00 10/19 -320 -8% 10 OCT 42.50 GE CALL (GEJV) 0 9/26 440 10/19 440 100% 10 OCT 07 42.50 GM CALL (GMJV) 0 10/12 1,490.00 10/19 1,490.00 100% 10 JAN 37.50 GM CALL (GMAU) 2,960.00 9/28 3,840.00 10/19 880 30% 80 JAN 08 40.00 GM PUT (GMMH) 25,050.00 9/17 33,190.00 10/17 8,140.00 33% 80 NOV 07 40.00 GM PUT (GMWH) 16,010.00 10/12 11,990.00 10/15 -4,020.00 -25% 10 OCT 07 610.00 GOOG PUT (GOOVB) 0 10/11 18,990.00 10/19 18,990.00 100% 10 OCT 07 630.00 GOOG PUT (GOOVF) 12,510.00 10/18 0 10/19 -12,510.00 -100% 40 OCT 07 630.00 GOOG CALL (GOOJF) 72,010.00 10/11 99,990.00 10/19 27,980.00 39% 5 OCT 620.00 GOOG CALL (GOOJD) 13,510.00 10/2 3,640.00 10/19 -9,870.00 -73% 5 OCT 640.00 GOOG CALL (GOOJH) 1,760.00 10/2 5,990.00 10/19 4,230.00 240% 25 JAN 590.00 GOOG CALL (GOOAR) 52,510.00 9/19 190,990.00 10/19 138,480.00 264% 10 OCT 07 640.00 GOOG CALL (GOOJH) 9,710.00 10/15 13,990.00 10/19 4,280.00 44% 10 OCT 07 640.00 GOOG CALL (GOOJH) 9,710.00 10/15 16,990.00 10/18 7,280.00 75% 20 OCT 07 620.00 GOOG PUT (GOOVD) 20,010.00 10/15 20,790.00 10/18 780 4% 5 OCT 580.00 GOOG PUT (GOOVP) 1,260.00 10/2 4,990.00 10/15 3,730.00 296% 5 OCT 07 600.00 GOOG PUT (GOOVT) 3,660.00 10/2 5,090.00 10/15 1,430.00 39% 40 OCT 07 220.00 GS CALL (GPYJD) 0 9/14 2,390.00 10/19 2,390.00 100% 20 OCT 07 220.00 GS CALL (GPYJD) 0 9/29 1,190.00 10/19 1,190.00 100% 60 OCT 90.00 HBC PUT (HBCVR) 4,990.00 9/24 0 10/19 -4,990.00 -100% 10 OCT 32.50 HD CALL (HDJZ) 0 9/28 940 10/19 940 100% 10 MAY 35.00 HD CALL (HDEG) 2,460.00 9/26 1,490.00 10/19 -970 -39% 10 DEC 57.50 HON CALL (HONLY) 3,910.00 9/26 2,990.00 10/19 -920 -24% 10 OCT 60.00 HON CALL (HONJL) 0 10/1 1,790.00 10/19 1,790.00 100% 10 OCT 07 52.50 HPQ CALL (HPQJX) 0 10/11 540 10/19 540 100% 5 JAN 50.00 HPQ CALL (VHPAJ) 4,060.00 9/27 4,390.00 10/19 330 8% 5 OCT 50.00 HPQ CALL (HPQJJ) 760 9/27 690 10/19 -70 -9% 50 OCT 07 115.00 IBM CALL (IBMJC) 0 10/17 990 10/19 990 100% 20 OCT 07 115.00 IBM CALL (IBMJC) 0 10/17 390 10/19 390 100% 10 JAN 120.00 IBM CALL (IBMAD) 5,010.00 9/27 2,590.00 10/19 -2,420.00 -48% 10 OCT 120.00 IBM CALL (IBMJD) 0 9/28 2,090.00 10/19 2,090.00 100% 25 OCT 07 120.00 IBM CALL (IBMJD) 260 9/21 365 10/17 105 40% 50 OCT 07 120.00 IBM CALL (IBMJD) 510 10/15 990 10/17 480 94% 20 OCT 07 120.00 IBM CALL (IBMJD) 210 10/11 5,690.00 10/17 5,480.00 2610% 6 OCT 07 50.00 INFY CALL (IUNJJ) 0 10/12 1,070.00 10/19 1,070.00 100% 6 OCT 07 50.00 INFY CALL (IUNJJ) 0 10/12 1,070.00 10/19 1,070.00 100% 100 NOV 07 27.50 INTC CALL (INQKY) 3,510.00 10/16 4,990.00 10/19 1,480.00 42% 40 NOV 07 25.00 INTC CALL (INQKE) 6,010.00 9/27 7,870.00 10/19 1,860.00 31% 30 OCT 07 20.00 IRBT CALL (IRQJD) 0 9/27 140 10/19 140 100% 10 OCT 07 65.00 JNJ CALL (JNJJM) 0 10/12 290 10/19 290 100% 20 JAN 65.00 JNJ CALL (JNJAM) 5,310.00 9/28 3,790.00 10/19 -1,520.00 -29% 20 OCT 65.00 JNJ CALL (JNJJM) 0 9/28 2,690.00 10/19 2,690.00 100% 20 OCT 57.50 KO CALL (KOJY) 2,910.00 9/27 1,990.00 10/19 -920 -32% 20 FEB 57.50 KO CALL (KOBY) 5,010.00 9/27 8,130.00 10/19 3,120.00 62% 40 NOV 140.00 LVS PUT (LHSWH) 61,610.00 9/24 24,350.00 10/19 -37,260.00 -61% 10 OCT 135.00 LVS PUT (LHSVG) 5,710.00 9/24 6,080.00 10/19 370 7% 20 OCT 07 35.00 M CALL (MJG) 0 10/5 90 10/19 90 100% 40 OCT 07 160.00 MA PUT (MALVL) 17,090.00 9/13 25,590.00 10/18 8,500.00 50% 5 JAN 55.00 MCD CALL (VMDAK) 2,860.00 9/27 3,790.00 10/19 930 33% 5 OCT 55.00 MCD CALL (MCDJK) 760 9/29 490 10/19 -270 -36% 10 OCT 07 50.00 MDT CALL (MDTJJ) 0 10/15 40 10/19 40 100% 60 NOV 07 52.50 MDT CALL (MDTKX) 3,010.00 10/15 3,590.00 10/17 580 19% 10 OCT 07 57.50 MDT CALL (MDTJY) 60 9/24 40 10/15 -20 -33% 10 JAN 95.00 MMM CALL (MNZAS) 3,710.00 9/27 1,490.00 10/19 -2,220.00 -60% 10 OCT 95.00 MMM CALL (MNZJS) 0 9/27 1,290.00 10/19 1,290.00 100% 10 OCT 07 90.00 MON CALL (MONJU) 0 10/16 240 10/19 240 100% 10 JAN 55.00 MRK CALL (VMKAK) 4,810.00 9/28 5,690.00 10/19 880 18% 10 JAN 55.00 MRK CALL (MRKAK) 2,010.00 9/28 1,540.00 10/19 -470 -23% 20 APR 30.00 MSFT CALL (MSQDK) 3,810.00 9/28 5,190.00 10/19 1,380.00 36% 20 OCT 30.00 MSFT CALL (MSQJK) 710 9/28 690 10/19 -20 -3% 10 OCT 30.00 MSFT CALL (MSQJK) 210 9/24 510 10/19 300 143% 5 OCT 07 105.00 MTB CALL (MTBJA) 0 10/9 1,340.00 10/19 1,340.00 100% 50 OCT 07 10.00 MU CALL (MUJB) 260 9/24 740 10/19 480 185% 10 OCT 07 47.50 NEM CALL (NEMJW) 0 10/11 840 10/19 840 100% 20 OCT 07 75.00 PEP CALL (PEPJO) 0 10/9 90 10/19 90 100% 30 MAR 25.00 PFE CALL (PFECE) 3,760.00 9/27 3,140.00 10/19 -620 -17% 30 OCT 25.00 PFE CALL (PFEJE) 0 9/27 1,790.00 10/19 1,790.00 100% 10 OCT 25.00 PFE CALL (PFEJE) 0 9/27 590 10/19 590 100% 20 OCT 25.00 PFE CALL (PFEJE) 0 9/27 1,190.00 10/19 1,190.00 100% 10 JAN 70.00 PG CALL (PGAN) 2,760.00 9/27 3,690.00 10/19 930 34% 30 OCT 20.00 PGR CALL (PGRJD) 0 9/24 1,490.00 10/19 1,490.00 100% 20 OCT 07 50.00 PNRA CALL (UPAJJ) 0 10/11 90 10/19 90 100% 10 OCT 07 220.00 PTR PUT (DZAVD) 610 10/16 690 10/17 80 13% 10 OCT 07 200.00 PTR PUT (PTRVW) 4,310.00 10/12 1,490.00 10/15 -2,820.00 -65% 10 OCT 07 42.50 QCOM CALL (AAOJV) 0 10/8 40 10/19 40 100% 50 JAN 08 53.00 QQQQ CALL (QQQAA) 15,010.00 10/12 13,740.00 10/19 -1,270.00 -9% 200 DEC 07 53.00 QQQQ CALL (QQQLA) 44,610.00 10/16 48,990.00 10/19 4,380.00 10% 50 OCT 07 53.00 QQQQ CALL (QQQJA) 0 10/12 5,590.00 10/19 5,590.00 100% 100 NOV 07 52.00 QQQQ PUT (QQQWZ) 7,010.00 10/11 11,490.00 10/19 4,480.00 64% 200 NOV 07 53.00 QQQQ PUT (QQQWA) 19,410.00 10/10 26,990.00 10/17 7,580.00 39% 200 JAN 51.00 QQQQ CALL (QQQAY) 37,610.00 9/13 83,990.00 10/15 46,380.00 123% 50 OCT 07 115.00 RIMM PUT (RULVU) 3,210.00 10/18 5,740.00 10/19 2,530.00 79% 35 OCT 07 27.50 SBUX CALL (SQXJY) 0 9/24 165 10/19 165 100% 40 JAN 25.00 SBUX CALL (VPRAE) 13,810.00 3/9 19,790.00 10/19 5,980.00 43% 40 OCT 27.50 SBUX CALL (SQXJY) 210 9/21 3,790.00 10/19 3,580.00 1705% 20 OCT 07 27.50 SBUX CALL (SQXJY) 0 9/24 90 10/19 90 100% 10 OCT 07 27.50 SBUX CALL (SQXJY) 0 9/24 40 10/19 40 100% 20 OCT 07 15.00 SHFL CALL (SFQJC) 0 10/15 1,190.00 10/19 1,190.00 100% 20 OCT 07 15.00 SHFL CALL (SFQJC) 0 10/10 490 10/19 490 100% 20 OCT 07 150.00 SHLD CALL (KTQJU) 0 10/8 590 10/19 590 100% 20 OCT 07 150.00 SHLD CALL (KTQJU) 410 10/9 590 10/15 180 44% 20 OCT 07 47.50 SNDK CALL (SWFJW) 0 10/18 1,290.00 10/19 1,290.00 100% 10 OCT 07 50.00 SNDK CALL (SWFJJ) 0 10/17 1,990.00 10/19 1,990.00 100% 10 OCT 55.00 SNDK CALL (SWFJK) 510 9/21 2,340.00 10/17 1,830.00 359% 10 NOV 07 85.00 SPWR PUT (QSUWQ) 3,510.00 10/17 3,490.00 10/18 -20 -1% 40 DEC 07 105.00 SU PUT (SUXA) 19,040.00 9/12 23,160.00 10/19 4,120.00 22% 10 OCT 07 105.00 SU PUT (SUVA) 610 10/18 1,090.00 10/19 480 79% 80 OCT 07 100.00 SU PUT (SUVT) 4,810.00 10/10 7,990.00 10/17 3,180.00 66% 20 OCT 07 42.50 T CALL (TJV) 0 10/11 90 10/19 90 100% 30 APR 45.00 T CALL (TDI) 6,610.00 9/27 5,450.00 10/19 -1,160.00 -18% 5 OCT 42.50 T CALL (TJV) 0 9/27 515 10/19 515 100% 10 OCT 42.50 T CALL (TJV) 0 9/27 1,040.00 10/19 1,040.00 100% 100 OCT 07 17.50 TASR CALL (QURJW) 0 10/5 1,990.00 10/19 1,990.00 100% 5 JAN 120.00 TM CALL (TMAD) 260 5/10 790 10/15 530 204% 1000 Trident Microsystems Inc. (TRID) 16,210.00 10/3 14,990.00 10/19 -1,220.00 -8% 10 NOV 15.00 TRID CALL (HVUKC) 0 10/3 2,190.00 10/19 2,190.00 100% 20 OCT 07 50.00 TSO PUT (TSOVJ) 0 10/10 90 10/19 90 100% 15 OCT 07 80.00 UTX CALL (UTXJP) 85 10/12 515 10/17 430 506% 20 NOV 110.00 VNO PUT (VNOWB) 5,310.00 10/4 5,990.00 10/16 680 13% 10 OCT 22.50 VOLV CALL (VQYJX) 1,210.00 7/12 0 10/19 -1,210.00 -100% 20 OCT 17.50 VOLV CALL (VQYJW) 0 9/24 1,990.00 10/19 1,990.00 100% 2000 Volvo Group AB ADR (VOLV) 36,190.00 10/19 34,990.00 10/19 -1,200.00 -3% 10 OCT 17.50 VOLV CALL (VQYJW) 0 9/24 940 10/19 940 100% 1000 Volvo Group AB ADR (VOLV) 18,100.00 10/19 17,490.00 10/19 -610 -3% 200 NOV 75.00 XLE CALL (XBTKW) 50,610.00 9/14 61,990.00 10/19 11,380.00 23% 100 NOV 07 95.00 XOM PUT (XOMWS) 35,610.00 10/10 44,990.00 10/19 9,380.00 26% 100 OCT 07 95.00 XOM PUT (XOMVS) 7,510.00 10/16 9,990.00 10/19 2,480.00 33% 400 OCT 07 95.00 XOM PUT (XOMVS) 30,010.00 10/15 47,990.00 10/19 17,980.00 60% 30 JAN 08 30.00 YHOO CALL (YHQAF) 4,660.00 10/9 6,290.00 10/18 1,630.00 35%
