Friday, March 09, 2007

A Belated Update

So, the other day I sold the March 40 calls (SWQCH) on the SanDisk (SNDK) position for 0.60, and I realized I had neglected to update here.

Next Friday is March options expiration. Here's what is going on right now...

SNDK at 39.41. Definitely volatile enough to breach the 40 mark and get called away. If the stock is not too far in the money, I will buy back the calls. I still like the company as I've said numerous times.

FORM at 45.90. I had sold the 45 calls for 0.90, so at this point I would have done better had I not sold them. But, same deal as with SNDK. I like the company, and will definitely buy the calls back if it is not too far in the money. Crossing my fingers that we get a somewhat flat to down week and FORM closes below 45.

THE at 33.71. The 35 calls I sold will probably expire worthless. And, when they do I will likely sell yet another round of calls for April.

YHOO at 29.12. I had sold the 30 puts for 0.50 with the intention of re-establishing a long position at a price better than I had exited. YHOO dipped today on some news regarding a deal change with AT&T, which could lead to some revenue loss. I do hope the stock stays below 30, as I don't mind re-entry at an effective 29.50.

Also, trying to re-enter WTSLA at 5.75 or below. I had sold off the position at 6.10 when I got a bit skittish from the drop we had recently. If I am able to get my price, I will be buying 6% more than what I originally owned. I figure I might as well keep the total dollar amount the same.

Once next Friday passes, I'll have a much clearer picture on what funds I have available for deployment. There are a few existing positions that I think I might add to in the coming weeks.

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