Current Portfolio:


CALL Play Updates

Bed Bath & Beyond Inc. - BBBY - close: 59.79 change: +0.11

Stop Loss: 58.90
Target(s): 64.75
Current Option Gain/Loss: Unopened
Time Frame: 2 to 4 weeks
New Positions: Yes, see below

Comments:
10/13 update: The market sold off initially on weakness in financials but the S&P 500 pared its losses. Meanwhile BBBY mostly mirrored the move but managed to close in positive territory. There is no change from my prior comments.

I am suggesting we launch small bullish positions if BBBY can trade at $61.00. We'll exit at $64.75.

Trigger @ 61.00 *Small Positions*

- Suggested Positions -

buy the NOV $62.50 call (BBBY1119K62.5)

Entry on October xx at $ xx.xx
Earnings Date 12/21/11 (unconfirmed)
Average Daily Volume = 3.4 million
Listed on October 12, 2011


Hewlett Packard - HPQ - close: 25.63 change: -0.24

Stop Loss: 22.90
Target(s): 29.50
Current Option Gain/Loss: +70.5%
Time Frame: 8 to 12 weeks
New Positions: see below

Comments:
10/13 update: News of an uptick in PC sales could not stave off some profit taking in HPQ. Shares fell to $25.14 before lunchtime but pared its losses to -0.9%. We have been expecting a dip. I am not suggesting new positions at this time.

Earlier Comments:
I am not suggesting new positions at this time. The next level of resistance for HPQ is the $26.25-26.50 zone.

- Suggested Positions -

Long 2012 Jan. $24 call (HPQ1221A24) Entry $2.14

10/11 new stop loss @ 22.90
10/11 planned to sell half at the open
bid 2012 Jan. $24 call @ $3.60 (+68.2%)
10/10 Take some $$ off the table. Sell 1/2 at the open tomorrow
09/27 new stop loss @ 21.45

Entry on September 23 at $22.52
Earnings Date 11/21/11 (unconfirmed)
Average Daily Volume = 26.6 million
Listed on September 22, 2011


PUT Play Updates

Edwards Lifesciences - EW - close: 71.23 change: +0.34

Stop Loss: 73.55
Target(s): 66.00
Current Option Gain/Loss: -17.0%
Time Frame: exit prior to earnings on Oct. 19th
New Positions: see below

Comments:
10/13 update: The stock market was weak this morning and shares of EW gapped open lower at $70.29. The stock bounced near $70 and slowly drifted higher to eventually close positive on the session. The overall trend is still down. I would still consider bearish positions now or you could wait for a drop under $70.00 as your entry point.

NOTE: We do not want to hold over the October 19th earnings report.

- Suggested Positions -

Long NOV $65 PUT (EW1119W65) Entry $2.05

10/13 EW gapped open lower at $70.29

Entry on October 13 at $70.29
Earnings Date 10/19/11 (confirmed)
Average Daily Volume = 1.3 million
Listed on October 12, 2011


CLOSED BULLISH PLAYS

Sina Corp. - SINA - close: 92.88 change: +14.40

Stop Loss: 70.85
Target(s): 94.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
10/13 update: Wow! Talk about some frustrating circumstances. We thought SINA looked bullish on Tuesday but the stock did not hit our trigger yesterday. SINA actually looked pretty bearish on Wednesday with yesterday's relative weakness. Then, this morning, the story broke that certain Chinese officials made positive comments about microblogging websites. Why is that important?

Investors have been worried that the Chinese government might shutdown or heavily regulate microblogging (a good example of microblogging is Twitter.com). Today's news that China would instead support or at least allow microblogging sites is good news for SINA because they have a twitter-like service called Weibo.

Shares of SINA soared from $81 to over $93 today. Of course we had just pulled our entry point and suggested readers wait to see how the stock performed today before re-evaluating an entry point. At this point I would not chase it.

Our trade never opened/ missed the entry point.

10/13 removing SINA from the play list.
10/12 We are postponing bullish positions. Re-evaluate tomorrow.
10/12 Trade not opened. SINA opened lower.

chart:

Entry on October xx at $ xx.xx
Earnings Date 11/15/11 (unconfirmed)
Average Daily Volume = 8.0 million
Listed on October 11, 2011