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.
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.