We are too tight for cash here so we’ll need to scare some up.
Unfortunately, in a small virtual portfolio, you have to make some moves due to cash constraints that are contrary to a better plan. NEM for example, I feel very strongly about the fact that they will get through $50 but we sold 3 of 5 Jan $47.50s simply because we needed cash. When NEM breaks up, we should be able to roll up to $50s.
GE is also having a tough time getting going here and I don’t like holding a Jan call so we’ll have to get out of that this week despite my love of the company. AMGN is effectively more than $3K in the vault and we’re covered – we would sell that if we saw a more exciting opportunity.
RIMM Mar $100s need to be moved to the Mar $113s for no less than $8, that will put us as a small disadvantage to our caller but I’m more worried about RIMM dropping than going up and our downside delta is too high for the amound of risk we can afford. This will cost us $1,690 in margin and we need to keep another $2K available and immeditael offer a good to cancel order to roll back to the March $110s for $3.70. If we’re lucky, there will be a nice downward spike that will allow us to move back and, if not, there’s always February to roll our caller to.
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Notes Stop Limits |
Issue Symbol |
Description | Qty | Trans Date |
Age | Net Cost |
Issue Price/ Total Change |
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DLQBF | Feb 2008 30 CALL [DELL @ $25.15 $0.27] | 10 | 11/29/2007 | (52) | $1,210.00 | $1.20 | $-1.10 | $0.10 | $0.00 | $-1,110.00 | -91.7% | $100.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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GEAS | Jan 2008 37.5 CALL [GE @ $37.53 $0.39] | 10 | 12/11/2007 | (24) | $1,310.00 | $1.30 | $-0.38 | $0.92 | $0.10 | $-390.00 | -29.8% | $920.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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NEMCW | Mar 2008 47.5 CALL [NEM @ $48.45 $-0.25] | 2 | 12/17/2007 | (87) | $880.00 | $4.40 | $-0.30 | $4.10 | $-0.35 | $-60.00 | -6.8% | $820.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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AMQDW | Apr 2008 47.5 CALL [AMGN @ $48.16 $0.14] | 10 | 12/17/2007 | (115) | $4,230.00 | $4.22 | $-0.22 | $4.00 | $0.02 | $-230.00 | -5.4% | $4,000.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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AMQAJ | Jan 2008 50 CALL [AMGN @ $48.16 $0.14] | -10 | 12/21/2007 | (24) | $-840.00 | $0.85 | $-0.05 | $0.80 | $-0.04 | $40.00 | 4.8% | $-800.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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BUDCK | Mar 2008 55 CALL [BUD @ $53.58 $0.14] | 5 | 11/30/2007 | (87) | $760.00 | $1.50 | $0.20 | $1.70 | $0.05 | $90.00 | 11.8% | $850.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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BUDAK | Jan 2008 55 CALL [BUD @ $53.58 $0.14] | -5 | 12/21/2007 | (24) | $-340.00 | $0.70 | $-0.05 | $0.65 | $0.05 | $15.00 | 4.4% | $-325.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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NEMCW | Mar 2008 47.5 CALL [NEM @ $48.45 $-0.25] | 3 | 12/17/2007 | (87) | $1,330.00 | $4.40 | $-0.30 | $4.10 | $-0.35 | $-100.00 | -7.5% | $1,230.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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NEMAW | Jan 2008 47.5 CALL [NEM @ $48.45 $-0.25] | -3 | 12/21/2007 | (24) | $-800.00 | $2.70 | $-0.30 | $2.40 | $-0.35 | $80.00 | 10.0% | $-720.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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RULCT | Mar 2008 100 CALL [RIMM @ $117.98 $-0.65] | 5 | 12/17/2007 | (87) | $8,010.00 | $16.00 | $7.50 | $23.50 | $-0.60 | $3,740.00 | 46.7% | $11,750.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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RULAB | Jan 2008 110 CALL [RIMM @ $117.98 $-0.65] | -5 | 12/21/2007 | (24) | $-6,290.00 | $12.60 | $-1.25 | $11.35 | $-0.85 | $615.00 | 9.8% | $-5,675.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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