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In Play Updates and Reviews

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Energy Play Updates
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NOV $41.25 -13.32 National Oilwell Varco *** Stopped ***

No specific news but the market dumping all week took us out of NOV on 9/29 at $46. Earnings call on Oct 23rd.

No LEAPS

Breakdown trigger: $53, Hit 9/15

Position: FEB $60 Call NOV-BL @ $5.50, exit $4.80, 9/29

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NE $37.49 -9.42 - Noble Corp *** Stopped ***

Noble was holding on to support until they announced they were going to take a $10 million charge for hurricane losses in the gulf. We were stopped at $39 on 10/02.

Breakdown trigger: $44, hit 9/15

Position: 2010 $50 LEAP Call YVJ-AJ @ $7.80, exit $6.40, 10/2

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PBR $36.72 -9.84 Petrobras

Petrobras continues to announce new discoveries and the stock continues to fall as funds liquidate. I lowered the stop by a buck to $35 but unless the market suddenly explodes it will not be enough.

Breakdown trigger: $40, hit 9/16

Position: 2010 $50 LEAP Call YMO-AJ @ $4.80

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FTK $8.46 -3.82 Flotek *** Stopped ***

No news but the same -25% drop in the energy sector stopped us out at $9 on Oct-2nd.

Breakdown trigger: $11, hit 9/15

Position: 2010 $15 LEAP Call YVB-AC $3.60, exit 2.40, 10/2

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MDR $20.85 -7.62 McDermott Intl *** Stopped ***

No news, no reason for drop other than market. Stopped at $25 on 10/2. I am adding MDR on the watch list again this weekend.

Breakdown trigger: $27, hit 9/16

Position: 2010 $35 LEAP Call YAE-AG @ $4.90, exit $3.29 10/2

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FLR $46.76 -8.75 Fluor *** Stopped ***

Stopped at $53 on new projects and new upgrades. Purely market related drop.

Breakdown trigger: $60, hit 9/15

Position: 2010 $70 LEAP Call LLF-AZ, @ $11.60, exit $7.60 9/29


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Non-Energy Positions
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None
 

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