March 2010 Challenge Picks
Covered Call: Buy 2500 JTX @ 2.44 = $6100
Sell 25 JTX Apr 2.5 @ 0.40 = -$1000
Buy 50 EK Apr 5 Put @ 0.25 = $1250 Exit Sell at 0.45
Buy 5000 BBI @ 0.30 = $1500 Exit Sell at 0.60
Buy 1900 ESLR @ 1.12 = $2128
Reasoning: JTX- I talked about it on the forum there is the opportunity for +10% Covered Call gain monthly because of high call price and the stock trading right at the strike, also they typically are up 50% in the summer. Disclosure I own this play.
EK- Earnings brought this stock out of it's 4-5 trading range, they have turned into patent trolls trying to get royalties off Apple and a few others for cameras in their phones I think negative news will put them back under 5.
BBI- Not as cheap as it has been, but still cheap, they grossed $1b I think there is room for a few cents gain, and 3 cents is 10% at this price. Sell on it because if it spikes it won't last long. Disclosure I own this stock.
ESLR- Stock at the bottom, I like to fight from the trenches, thus my SN-Trench Warfare.
Let's try this:
Buy 25 GE Jun 16.00 Call @ 1.01 = $2525.00 *
Buy 10 XOM Jul 65.00 Call @ 3.25 = $3250.00
Buy 250 EP @ 10.47 = $2617.50 **
Buy 1631 COIN @ 0.985 = $1606.54 ***
* I own this
** I own this too
*** And this
Good luck to all,
What the heck.... Yeah to everyone that participated!!!
I think I'm working too much; need a vacation.
Went with the same mix as last month and kept the March expiration. This should effectively give me the same results as a limit sell order if things go as planned.
VZ Call Mar $29 - 4 contracts
FSLR Call Mar $100 - 10 contracts
CNW Call Mar $30 - 5 contracts
C Call Mar $3 - 5 contracts
Good luck all and congrats to Go White Sox as February WINNER!
So the way I see it, on March 19 the value of you options will freeze at that time (no more gain or loss) and it willbe the closing bid price.
If not please advise why.
I'm showing the Last Ask price at 5 cents.
Without these your total spent is $8311.00 but you only want 4 contracts?
Let me know how you want this changed or clarify it if I am misunderstanding you somehow?
If I bump up your C Calls to the max of 50 contracts and up your BX shares to 250 instead of 150 we're at $9959 total.
My picks for March.
KFT Apr 28.00 Call, .91 x 50 = 4550.00,
AA Apr 13.00 Call, 1.03 x 12 = 1236.00,
USG Apr 12.50 Call, 1.50 x 25 = 3750.00,
YRCW Jan 1.00 Call, .08 x 50 = 400.00,
Total = 9936.00
50 CLF Mar $50 put @ $0.70 sell at $ 1.15 = $ 3500
50 CSIQ APR $ 22.5 call @ 0.80 sell at $ 2.30 = $ 4000
100 shares of CAGC @ 25.00 = $ 2500
CLF had a great run up looking for a little pullback.
CSIQ looking for a small jump up.
Had to throw in a Verns pick.
I'm guessing this is going to be a RED month for me.
5000 adls @ 0.15 (750) sell at .40
3000 cmin @ .83 (2490) sell at 1.15
4090 gbg @ 1.65 (6748.5) sell at 1.90
45 contracts onty d 5 @ .35 = 1575
45 contracts onty c 5 @ .15 = 675
50 contracts iiin g 10 @ 1.55 = 7750
the sum total is exactly 10,000.00 U.S. Dollars
Let me know if this is okay..:0)