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WATCH LIST - 4-20-06

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WATCH LIST - UPDATE 4-19-06

TOPT ( remains on WATCH LIST closed at $7.98) however, it is $0.48 cents out of the money with one (1) day left to expiration and is the only issue that is on the WATCH LIST.

If all goes reasonably well or let us say normal tomorrow and we hodl oour current prices all of our Option Writer Short Put Positions should expire worthless tomorrow.

RMBS
weathered the storm and even after big down day, is even up in after-hours trading and is still more than 14 points out of the money. So with nothing hanging over our heads we should be okay with our RMBS position
CAL earnings outlook for next 2 quarters was not bad and even the close down over a 1 point, still gives us cushion going into tomorrow.

SBAC and ELN all improved their position today and our short options are selling for only $0.05 cents going into tomorrow.

PEIX, GAP, and even BWNG ( off slightly the last few days) all seem to be setting in good shape as well

Look for more MAY POSITIONS this weekend and maybe a play or two (2) tonight for the opening tomorrow as APR options are set to expire tomorrow and even new positions that are put on tomorrow that will put you over your margin requirements, will be offset by the expiring APRIL positions tomorrow at the close. If all goes well tomorrow, we should be able to conclude a very nice APRIL in regards to our returns.

NEXT episode: MAY Options

CURRENT WATCH LIST 4-20-06 = GOING INTO THE FINAL APRIL EXPIRATION DAY

TOPT

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