Wrap – Week Ended 5/8/09

Holdings Watch - Very Busy Week As We Cashed A Number of Tickets.

• Next week is expiry so and we have come out of most May Calls earlier than usual given the run in the group. As things stand now we will only have 1 scud position, a set of HAL $16 puts.

• The $10KP model portfolio now stands at:
  • $35,200
  • 74% Cash
  • The wiki holdings and $10KP tabs are updated

• Closed Trades For The Week:

  • (HK) - Sold the HK $24 May Calls HKEO for $2.25, up 269%.
    

  • (CLR) - Sold half (10) of the CLR May $25 Calls for $2.10, up 106% to my average cost.

  • (RRC) - Sold the (10) $42.50 calls taken last week for $2.45, up 242%.

  • (SWN) - Sold the remaining 14 $40 calls for $1.90, up 273%.

  • (WRES) - Sold 25 (half) my June $2.50 Call position for $0.60, up 277% with the stock at $2.85. I didn’t expect this kind of rally in the name and didn’t see a reason to keep the exposure as high going into earnings today.

  • (HK)  - Sold the 20 HK $26 May calls purchased during the conference call for $0.90, up 118%. I don’t do a lot of trades with the intention of them being “day trades”. But that one did what I wanted.
    

  • (EOG) - Sold the EOG June $70 calls for $8.40, up 169% withe stock up $4.65 on the day at $75.66.
    

  • (CLR) - Sold half (5) of my remaining May CLR calls for $3.70, up 383% since entry last week.

  • (PXD) - Sold all (10) PXD $25 May Calls (PXDEE) for $4.00, up 220% since purchase yesterday. Good earnings report, good conference call, will reposition on a pull back into longer dated calls here.
    

  •  Sold those 30 HK May calls taken yesterday for $1.05, up 57% with the stock at $25.30.
    

  • Sold (5) of the June HK $25 for 3.00, bought yesterday for $2.00, up 50%.
    

  • Sold (5) of the June EOG $80 Calls for 3.70, added yesterday for $2.85, up 30%.
    

On To The Wrap ...

Comments to be added over the weekend ...