Housekeeping: Reviewing Current Open Positions

YRCW - Long stock.  Nothing to do here.  Still holding.  I expect a rebound in EBITDA and valuation in 2nd quarter. 


LEAP - Bullish risk reversal through short July 10/12.50 put spread and long July 20 calls.  Nothing to do here.  Still believe a merger with MetroPCS is likely.  


LCC - Long Sept $7 straddle.  Nothing to do here.  Looking for sharp move in either direction.  


NFLX - Long April 60/65/70 put butterfly.  But loser, but its all or nothing at this point.  


AMLN - Long Jan'11 $12.50 puts and $30 calls.  Still expect a rise in IV as we get a firm date on final FDA decision.  That would be the opportunity either sell front month options or just close the trade.  


AAPL - Long May/April $240 calendar.  Love the trade and have no desire to roll April $240 to May $250 until the stock breaks above $240.  


VRSN - June 28/29/23/24 iron condor.  Still holding for more gains through time decay and drop in IV.  


RIMM - Long June 75/85 call spread.  Will hold this through earnings this Wednesday.  


V - Long June/April $95 calendar.  The stock is acting rather nicely given the tape.  Still expect April $95 calls to expire worthless so I can sell May $95 calls.  


LVS - Long June 19/22.50 call spread.  Sold half a few days back at $2.00.  Still holding the rest and the spread hasn't changed much currently trading at $1.92.


WYNN - Long June 75/85 call spread currently trading at $4.35.  Trade working nicely, looking for more gains.  


C - Long June $3 calls.  Looking for more profits.  


SPY - Long April $14 puts as a partial protection against current portfolio.


POT - Long April 125/135/140 skip-strike butterfly.  Not a good trade so far.  Will re-evaluate after MOS earnings on Wednesday.  


MEE - Short April 44/45 bull put spread.  Nothing to do here.  Expect the trade to expire worthless.  


PCX - Short April 17/18 bull put spread.  Nothing to do here.  Expect the trade to expire worthless. 


GGP - Short April 12.50/15 bull put spread.  Nothing to do here.  Expect the trade to expire worthless. 


LPX - Short May 7.5/10 bull put spread.  Nothing to do here.  Earnings in early May.  


DNDN - Long May 25/35 call ratio spread.  Expecting IV to rise before May 1st FDA decision.  


TBT - Bullish risk reversal.  Short June 45/47 bull put spread and long June 54 calls.  Expect TBT to break above $50 resistance sooner than later.  May be this Friday after a hot job report.  


LMT - Long June $90 calls following unusual activity.  I think defense stocks are ready to breakout sharply.  


IWM - Long May 68/63 put spread.  Betting IWM to fall relatively more than S&P 500 on a pullback.  This is also an insurance policy in the portfolio.