Position Updates

Stock / Symbol: Freeport-McMoran / FCX
Option Strategy: calendar call spread w/ protective call

Update:[private_monthly] The Nov11 40 calls we sold will expire worthless today, giving us an uncalled return of 8%. Next, we'll look to sell the NovWk4 40 calls against the position.
[/private_monthly]

-----
Stock / Symbol: Proshares UltraShort 20 Year Treasury / TBT
Option Strategy: call ratio spread

Update:[private_monthly] The Nov11 20 calls we sold will expire worthless today, giving us an uncalled return of 39%. On Monday, we'll look to sell either the NovWk4 or Dec11 20 calls against the position.
[/private_monthly]

-----
Stock / Symbol: SalesForce.com / CRM
Option Strategy: butterfly call spread

Update:[private_monthly] We got a nice move down following last nights earnings release. If it stays under $120, we'll be able to let the position expire for the full yield.
[/private_monthly]

-----
Stock / Symbol: Priceline / PCLN
Option Strategy: bear call spread

Update:[private_monthly] To realize the full 7.5% yield on the trade, we just needed PCLN to finish today under $570 per share. AT $502, it looks like we'll easily be able to let this position expire worthless for the full 7.5% in one week's time.
[/private_monthly]

-----
Stock / Symbol: Broadcom / BRCM
Option Strategy: calendar call spread

Update: [private_monthly] The Nov11 40 calls we sold will expire worthless today, giving us an uncalled return of 13.2%. Next, we'll look to sell the Dec11 40 calls against the position but we'll need the stock to recover before we do.
[/private_monthly]

-----
Stock / Symbol: Chesapeake Energy / CHK
Option Strategy: bull put spread

Update: [private_monthly] We're currently down on the position but as long as it closes above $22.50 by Jan12 expiration, we'll realize the full yield on the trade. If the stock pops back to $30 in the meantime, we'll exit the trade early at a partial profit.
[/private_monthly]

-----
Stock / Symbol: Halliburton / HAL
Option Strategy: diagonal call spread

Update: [private_monthly] Looks like our closing order will most definitely get filled today. We may cancel the order and roll the short call to next week (or) simply allow the short 39 call to expire worthless for an uncalled return of 8.8% and look to sell another weekly call on Monday.[/private_monthly]

-----
Stock / Symbol: Cheniere Energy / LNG
Option Strategy: covered call

Update: [private_monthly] The Nov11 8 calls we sold are in the money; so our position will get called away for a small gain overall.
[/private_monthly]

Non-members, click here for access