iceman's options trading journal

No I did not buy PUT 340. I bought PUT 390 yesterday at 14.20!! 3 contracts and two PUT 380. I also sold Call 430 for 2.2 yesterday. It went up to 3.6 today but I see it was traded at 0.05 today !!. I was forced to cover my naked Calls at 1.45. (with profit)
I recommended less aggressive options to you and I kept more aggressive ones to myself. I sold Call 370 today at 9.1,9.5 and 10 and it went against me up to about 15 but then went down to 10.20 and I am still holding them. Things were happening so fast on GOOG that you could not act fast enough. I am trading on XLNX and I am very successful on that. I am just waiting for a good time to go short on WIND. (I won't play WIND's option, they are not that liquid).
 
All things said, I don't recommend trading GOOG. It is too risky and outcome is not known and everything depends on your gut!!
I believe we can find more risk manageable trades.
 
It seems that my gut is talking to me again. It says GOOG will open at $355 tomorrow (on Wednesday).

Now I don't have that feeling anymore. I would like to take that back.:(
Time : 8:14PM Thursday
 
DNA

should be good for some action - what is tempering DNA's upside right now is the pending Supreme Court patent review IMHO. My thought is that both sides come to some settlement thereby avoiding judicial review, an outcome which is likely not anticipated by the Street.


28-Feb-06
19:05 DNA Genentech granted 6 month priority review for Lucentis for Macular degeneration

Co announced today that the FDA has accepted the Biologics License Application BLA for the use of Lucentis in the treatment of neovascular wet age-related macular degeneration. As part of the BLA filing, Genentech requested and has been granted a six-month Priority Review.
 
Quote from iceman1:

APOL

-$7+

Deleted this stock from the universe. Will never trade it again.

I will not trade a company that warns even once. We had enough of that b.s. in the 90s - will not go through it again. No wonder their dishonorable scumbag CEO Nelson resigned suddenly --- rather than stay with a sinking ship. What a chicken-sh-t! Who ever heard of an 85 year old interim CEO?

Yep, that was a warning -- just like when a CFO resigns. We didn't heed it. So I'm another sucker at the APOL table.

I was expecting MARCH 16th (which is only SIXTEEN days away) as the reliable earnings date - thereby giving me enough time to strategize whether to strangle this stock or exit calls. But these maggots "warn'" now - a mere SIXTEEN days in front of earnings. It's inexplicable. Most warnings come sooner than two weeks before earnings dates. They just don't come at this juncture. g-damn it! :eek: :D

Just can't trust some companies - I saw it all through the 90s. Yep it's hard to have a trading plan if you can't rely on the underlying company to not pull this kind of B.S.

Didn't buy even ONE cheap put.

Total loss on 18 calls @ 1.35



Over the weekend Barrons' had the following (mind you these are the guys they interview and publish opinions from!) What a joke --- Barrons'!

Looks like "Shawn" is a bigger sucker than I am if he bought this so-called "value stock"!



27-Feb-06
04:52 Barron's interviews Shawn Kravetz of Esplanade Capital

>>>Shawn Kravetz, founder and president of Esplanade Capital, sees value in Apollo Group (APOL), Corinthian Colleges (COCO)...... blah blah blah
More...

(hajimow... in following up on what you posted earlier about INTC)


..... this is why the ANALyst scum get paid the big bucks. 18 days ago this hotshot decides APOL is worth $77!! Great investigative research on his part concerning the current earnings picture, and thorough knowledge of the companies he follows! What a disgrace that yuppie maggots like this get paid so much for so little simply because they matriculated at some big name school!

Give me a guy with street smarts, desire and a high school degree with honors over this graduate degreed prick anyday


"February 10, 2006
Citigroup
Action Company Ticker Rating Change Price Target
Initiated Apollo Group APOL Buy $77"

ANYONE know the price of APOL today? I didn't bother to look after I emptied my air sickness bag this morning!

:eek:
 
Quote from hajimow:

It seems that my gut is talking to me again. It says GOOG will open at $355 tomorrow (on Wednesday).

Now I don't have that feeling anymore. I would like to take that back.:(
Time : 8:14PM Thursday
More...

not much will happen until "analyst day" Thursday at which point I expect some upside.

JMHO

however I am holding my 410/400c bear spread but will not roll down to the 390c strike until closer to expiry. Still a little concerned about the open gap >400. I was long the 400c starting the day and lucked out by selling it just a few moments before GOOG crashed. So considering I got blind-sided on APOL it was poetic justice to sell said calls near HOD, and then re-sell them short for similar prices ($11.40). The 410c I had bought for <3.70 at an earlier date.


I was however also long (2) 370c @ 11+ and exited those much too soon near $19. In hindsight glad I banked those profits yesterday even though I was impatient in so doing. But like discussed with bjdhawk in an earlier post -- I immediately rolled into 3 March 400c (@4-4.70) after exiting the 370c and since the trend continued overnight was able to capture more of the move rather than sitting back and waiting/hoping for a reaction PB.

The frustrating part was I had bought two GOOG 340p (part of a strangle) in an IRA account for 10.80 and exited one at 10.30. Then yesterday I finally exited the other one at 4.10 for a $600+ loss figuring I could re-enter another put strike later this week, or this month.
 
Quote from bjdhawk:

ICE, i'm joining you on the trip with JBLU

+5 Sept 1250c @ 1.2


i think this thing is clear for take off....
More...


JBLU piece in the NY Times

http://www.nytimes.com/2006/03/01/business/01jetblue.html


subset from article......

During last year's third quarter, Delta's average ticket prices on seven heavily traveled routes were lower than JetBlue's prices, according to Back Aviation Solutions, a consulting firm. Still, on flights between South Florida and New York, JetBlue planes flew 86.6 percent full during the third quarter and Delta planes were 76.7 percent full.

"JetBlue is charging a premium to Delta and they're getting better load factors," said Michael Allen, a managing director at Back Aviation. "The indication would be they have a preferred product."
 
i was looking to add to JBLU position today (tues). i had an open order for addt'l 5 Sept 1250 @ 1.15, but didn't get hit. I will look to add at this strike IF this media release does not cause a POP on Wed.
 
DNA

my maternal grandmother had rheumatoid arthritis. It was a bad case, and very painful. Yet she was one of THE most stoic and positive persons/woman I have ever known. Always concerned about the family and their/our well-being. Yet through it all -- the terrible pain, the extreme disfigurement and the lack of mobility - I never heard her complain - not once EVER! Yet all the while raising 6 kids in the depression and post-Depression Era.

I keep a black/white photo of her right above one of my computer monitors to remind me what courage, strength and honor is really all about!!

Really too bad they did not have this drug when she was alive! RIP Molly!

All of us are real lucky today there are companies like DNA - regardless of their stock price.






FDA OKs new Rituxan use

SAN FRANCISCO (MarketWatch) -- The Food and Drug Administration has approved Rituxan for patients with moderately-to-severely active rheumatoid arthritis who have had an inadequate response to one or more tumor necrosis factor antagonist therapies, officials said Tuesday evening.
Rituxan, co-marketed by Genentech Inc. (DNA : genentech inc com new

BIIB47.25, -2.85, -5.7%) in the United States, is the first treatment for rheumatoid arthritis that selectively targets certain immune cells, according to company officials.
At 24 weeks, patients in clinical trials receiving Rituxan displayed clinically and statistically significant improvements in rheumatoid arthritis signs and symptoms, including pain and disability, according to the companies.

Ruth Mantell is a MarketWatch reporter based in San Francisco.
 
Quote from bjdhawk:

i was looking to add to JBLU position today (tues). i had an open order for addt'l 5 Sept 1250 @ 1.15, but didn't get hit. I will look to add at this strike IF this media release does not cause a POP on Wed.
More...

I think that is a good idea - JBLU will at least see 12.50-13 in next 30 days - and most likely 16 by late Summer.
 
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