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Entry/Exit Opportunities...

Although we were away from the market on Monday afternoon, our recent "alternate" selections in Lennar (NYSE:LEN) and Cigna (NYSE:CI) moved favorably in late-session trading and it appears a number of readers were able to enter those spreads at (or near) the recommended prices. The late consolidation may have also improved the entry opportunity in WellPoint (NYSE:WLP), which offered a slightly higher credit (than in the morning) as the issue retreated to the day's lows near 3:00 P.M. EST. While the maximum credit was probably no more than $0.35 per contract (on a simultaneous order basis), we will track the position in the MCM Portfolio for the benefit of those readers who initiated the spread at a lower price. Among the "early-exit" candidates, positions in Navistar (NYSE:NAV) and Xilinx (NASDAQ:XLNX) have been successfully closed, but we have yet to see any exit trades in the Mohawk (NYSE:MHK) spread. The sold call (MAY-$90) has been crossed at $0.10, however we have not observed any transactions at the target ($0.05) price.

MCM Staff

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