Option Investor
Play Updates

In Play Updates and Reviews

HAVING TROUBLE PRINTING?
Printer friendly version

Call Updates

Avalonbay - AVB - close: 74.15 change: 1.41 stop: 69.49

AVB added another 1.9 percent on Monday and is nearing our target in the $75-76 range. Readers can prepare to exit. More conservative traders may want to exit early (like now). There is no change from our previous update on 05/08/05.

Picked on April 24 at $ 70.05
Change since picked: 4.10
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 345 thousand

---

Chubb Corp - CB - close: 84.05 chg: 0.50 stop: 79.49

Insurance stocks pretty much paced the market's rise today and CB followed suit after a brief dip toward $82.55. We see no change from our previous update on 05/08/05.

Picked on May 01 at $ 81.78
Change since picked: 2.27
Earnings Date 04/25/05 (confirmed)
Average Daily Volume = 1.2 million

---

Coventry Hlth Care - CVH - close: 69.61 chg: 0.09 stop: 66.99

We are a little surprised that CVH did not participate more in today's broad market gains. We remain on the sidelines waiting for CVH to breakout over resistance at the $70.00 level and hit our trigger/entry point at $70.51 to open the play. No change from our previous update on 05/08/05.

Picked on May xx at $ xx.xx <-- see TRIGGER
Change since picked: 0.00
Earnings Date 05/03/05 (confirmed)
Average Daily Volume = 973 thousand

---

Golden West Fincl - GDW - close: 64.55 chg: 1.61 stop: 60.95

Good news! GDW completely erased Friday's losses with a 2.5 percent gain on Monday. It would appear that the $62.50 level is holding up as short-term support. Our target is the $66.50 level but readers may want to consider an early exit anywhere above $65.00.

Picked on April 26 at $ 62.55
Change since picked: 2.00
Earnings Date 04/20/05 (confirmed)
Average Daily Volume = 1.3 million

---

Hovnanian - HOV - close: 54.21 chg: 0.32 stop: 49.99

Housing stocks continue to climb. We're a little concerned that volume is drying up as HOV inches higher but we remain bullish. No change from our previous update. This does look like a bullish entry point.

Picked on May 06 at $ 54.26
Change since picked: - 0.05
Earnings Date 03/02/05 (confirmed)
Average Daily Volume = 1.2 million

---

Invitrogen - IVGN - close: 76.32 change: 1.29 stop: 71.49

Support at the $75.00 level is holding. Readers can use today's bounce as a new bullish entry point. No change from our previous update on 05/08/05.

Picked on May 03 at $ 75.51
Change since picked: 0.81
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 888 thousand

---

Eli Lilly - LLY - close: 59.76 change: -0.42 stop: 57.49

Drug stocks started the session off weak but rebounded by the closing bell. LLY lagged the rebound and traded in a 50-cent range for most of the day. We will continue to watch the $58 and $59 levels as potential support but a bounce back above $60.00 could be used as a new bullish entry point.

Picked on May 04 at $ 60.15
Change since picked: - 0.39
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 4.7 million

---

Nucor - NUE - close: 53.65 chg: 0.13 stop: 49.95

We are still waiting for a breakout over resistance at the $55.00 level and its 100-dma. Our entry point is currently at $55.05. FYI: NUE's annual shareholder meeting is this Thursday.

Picked on April xx at $ xx.xx <-- see TRIGGER
Change since picked: 0.00
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 3.3 million

---

Reynolds American - RAI - cls: 79.12 chg: -0.97 stop: 77.95

Uh-oh! Shares of RAI lost 1.2 percent and lead most of the tobacco stocks lower on Monday. We were unable to find any specific news or catalyst for today's relative weakness. We remain on the sidelines waiting for RAI to trade at or above our trigger at $81.31.

Picked on May xx at $ xx.xx <-- see TRIGGER
Change since picked: 0.00
Earnings Date 04/27/05 (confirmed)
Average Daily Volume = 866 thousand
 

Put Updates

Lehman Brothers - LEH - close: 91.92 chg: 1.68 stop: 92.80

If you lean toward the conservative side of trading it may be a good time to consider an early exit in LEH. Currently the stock is still in its descending channel but today's news gave the stock a 1.8 percent lift. Word that E*Trade was considering an offer to take over Ameritrade sent all the brokers higher and the XBD broker-dealer index jumped 3.2 percent to breakout over its 50-dma. This does not bode well for our bearish LEH play. Currently our stop loss is at $92.80 just north of LEH's simple 50-dma. An early exit definitely looks tempting here.

Picked on April 29 at $ 89.45
Change since picked: 2.47
Earnings Date 03/15/05 (confirmed)
Average Daily Volume = 2.3 million

---

Marriot - MAR - close: 62.65 chg: 0.72 stop: 64.21

MAR is still bouncing toward its simple 10-dma. We're still watching the $63.00 region for short-term resistance. We are not suggesting new bearish plays.

Picked on April 28 at $ 63.37
Change since picked: - 0.72
Earnings Date 04/21/05 (confirmed)
Average Daily Volume = 1.2 million

---

Parker Hannifin - PH - close: 59.97 change: 0.22 stop: 62.01

No change from previous update on 05/08/05.

Picked on April 28 at $ 59.08
Change since picked: 0.89
Earnings Date 04/18/05 (confirmed)
Average Daily Volume = 1.2 million
 

Dropped Calls

None
 

Dropped Puts

Adobe Systems - ADBE - close: 58.67 chg: 0.97 stop: 60.01

We're calling it quits on ADBE. Today's gain out performed the NASDAQ and the GSO software index. The technical oscillators we cautioned about last week are now looking more bullish. While there is still overhead resistance near the $60.00 level we suspect that the odds are against us as bears here.

Picked on April 26 at $ 59.12
Change since picked: - 0.45
Earnings Date 06/16/05 (unconfirmed)
Average Daily Volume = 3.3 million

---

CDW Corp - CDWC - close: 58.38 chg: 2.01 stop: 57.26

We have been stopped out of CDWC. This morning before the open analyst firm Raymond James upgraded CDWC from an "out perform" to a "strong buy" and raised their price target to $67.00. That sent CDWC gapping open to $57.78. Our stop loss was $57.26 so we're closing the play at today's open. After some initial volatility CDWC trended higher with the rest of the market and has broken through its multi-month bearish trend of lower highs.

Picked on April 24 at $ 55.68
Change since picked: 2.70
Earnings Date 04/19/05 (confirmed)
Average Daily Volume = 920 thousand
 

Play Update Archives