Option Investor

Option Writer Portfolio - May

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MEMC Electonics (WFR) is causing some pain for us today. So far we are down about $110 on two contracts. The stock broke the 200 DMA at 70.12 and then the 68.00 price support. So this position is on high alert. Look below for a fresh look at the risk management levels.


Put/ Call Stock Price Option Symbol Strike Price Cost Basis Tech P/L Stop
WFR Put 66.88 WFRQM 65.00 63.30 70.12 64.40

USB US Bancorp is up a little and the May 30 puts are bid $0.00 to $0.10 offer. We should try to get inbetween the spread and close the trade for $0.05. This will make margin available for a couple of new ideas.

Seabridge (SA) and Cypress Semi (CY) are on my short list for May.

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