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stock prices, stock help
[Weekend Summary]
Dear Member:
I didn't find much I liked this week. I did sell some 185 calls on BBH for $1.80 against my Jan 200 calls. The 185's are now profitable and the play served to reduce risk in the long position and brought me some income.
My original straddle on BR is now a straddle on Conoco Phillips (COP) and is ok after the dip this week. COP bounced up a bit today. The oil stocks are really in a quandry after Exxon Mobil (XOM) had slightly disappointing earnings and the public is irate about gas prices. All that could serve to help volatility and pump the prices of both puts and calls.
Morgan Stanley (MS) was down modestly this week and that is the direction I am looking for to increase the value of my puts.
I like my spreads on Micron (MU) and SPY. MU made a pretty strong move during the week and the SP-500 eked out a small gain so I continue to be happy with both.
Sirius Radio (SIRI), on the other hand, hasn't made me very happy, but I'm not yet ready to pull the plug on my position.
The condor on Unit Corp (UNT) is doing well and the stock at 58 is between the short call and the short put prices where I would like it to stay so no adjustment is required.
The technical ETF (XLK) is at a critical junction between the uptrend line and a resistance. I'm rooting for it to break resistance, but it could go either way. I'll be watching closely early in the week.
Have a great weekend.
Bill
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