Reviewing Current Open Positions

YRCW - I own the common.  Stock slowly moving up and there is no reason to sell.  This is a turnaround story and there is still plenty of upside left.  


LEAP - We have bullish risk reversal trade (July 10/12.50 bull put spread and long July 20 calls).  It is time to close this trade.  I will be taking profits this week.  


AMLN - We're long Jan'11 12.50/30 strangle.  Both legs are slightly profitable.  Still looking for further clarity on final FDA decision timeline and rise in IV.  


LCC - We're long Sept $7 straddle.  We got a nice boost in shares when United offered merger, but later US Airways board ended the discussion.  The trade is a small loser now as the stock hasn't really made a move.  Need to make some adjustment here or just close the trade.  Thinking about selling May 6/8 strangle.  


AAPL - We have June/July $250 and June/May $230 calendars.  Apple has added $60 billion market cap in two months.  Still love the company and products (I own an iphone, itouch, ipad and mac), but I would not commit new capital to the upside here.  Stock needs to rest and digest gains.  


VRSN - We have 28/29/24/23 iron condor.  The stock is reach the upper limit.  As long as it stays below $28, I am sticking with the trade.  


RIMM - After the adjustment we made on Friday, we now have June/May 75/70 diagonal bear call spread.  I think the stock goes lower.  


V - We have June/May $95 calendar.  Earnings on 4/28.  Until then I am holding.  Might need an adjustment before earnings as the stock is now trading at $96.50.  


C - We're long Sept $4 calls.  No reason to sell here.  There is plenty of upside still coming our way.  


DNDN - We have May 25/35 call ratio spread and trade is profitable by about 20%.  This week I expect IV to rise sharply.  Will re-evaluate on Friday whether it worth staying in the trade through FDA decision.


TBT - Bullish risk trade as we're short 45/47 bull put spread and long June 54 calls.  Trade has turned sour, but TBT is still holding above $46.50 support.  BTW, Joe Biden during his speech two days ago suggested the economy should be producing 500,000 jobs per month very soon.  I generally disregard political perceptions, but if we truly get this sort of job growth, I just don't see how the Fed will stick with 0% policy.  


LMT - Very nice comeback.  We have May/June $90 calendar.  Trade is slightly profitable.  Nothing to do here yet.  


IWM - We're long May 68/63 put spread as an insurance policy in the portfolio.  I have completely written this trade off.  


MEE - We have July/May $50 calendar.  Still nothing to do here.  Fundamentally, the stock is ridiculously cheap, but it will take sometime for investors to put behind the mining incident.  


GS - We're long July $190 calls.  Had a perfect trade going before the govt ruined it for us.  Still holding.  On any kind of material bounce, I plan to sell front month $185 calls to convert to diagonal bear call spread.  


ATPG - Perfect trade going with June 20/25 call spread.  I believe there is more to come.  


CRM - We have Aug/May $85 calendar.  The stock is now trading at $88.  Ideally, I'd like to roll May $85 calls to June $90 calls for net credit.  Watching closely.  


IBM - Bullish risk reversal trade as we're short July 120/125 bull put spread and long July 140 calls, all for net credit.  The rising trend line is still fully intact and we have plenty of time for the trade to work out.  


WHR - We have May/June $100 calendar bought for $0.75 and is currently going for $1.00.  I plan to hold this through earnings this coming week.  


NFLX - We bought May/June $80 and $90 calendars as earnings play.  But massive short covering has the stock reaching $100 after earnings.  Want to close the trade for scratch at best, but it might need the stock to come back down to ~$95 area for that happen.  


STX - We have June 20/21 call spread that is has nicely expanded now showing 30% profit.  I believe there is more to come.  The stock broke out last few days from a converging triangle.  


CTB - We have a May/June $22.50 calendar bought really cheap for $0.30.  I plan to hold this through earnings this week.  


OSIS - We have June 30/35 call spread bought after following unusual activity.  Lets see what happens after earnings.  


AMZN - We bought July/May $165 calendar as an earnings play.  The trade is at a small loss, but similar to IBM, rising support line is fully intact.  Needs to be patient with this a little bit.  But on any kind of bounce, I will be looking to sell some front month volatility.  


RYL - We're long front month May $26 calls.  This is the only trade in the entire portfolio that we're long front month options.  Theta decay is the highest.  The stock broke out above one year long resistance on Friday.  Lets see if it brings out momentum.


GLD - We're long June 114/118 call spread.  Nothing to do here yet.