Monday, March 8, 2010

Housekeeping (TBT, LPX, AKS and RIMM)

Folks, wonderful start for the week.  


TBT is rallying again this morning.  We bought April 47/50 call spread on Feb 26 for $0.77.  Here is the link: TBT Call Spread.  I am closing half of my position at $1.45 or just over 100% profit.


Remember, we bought LPX March $7.50 calls for $0.40 as an earnings play and closed half for 100% profit.  The stock has extended gains even further, but I am still holding the remaining half.  The stock is still way undervalued in my opinion.  Will assess later this week.  Link: LPX Straight Call


AKS is finally cracking lower again this morning as Goldman downgraded the stock from Buy to Neutral.  I am still holding my iron condor and expect it expire worthless.  Link: AKS Iron Condor


I had a trigger set for RIMM to go long June 75/85 call spread as soon as the stock breaks $72.25.  I filled the order for $2.90 this morning.  RIMM Call Spread


Good luck!