Three of our new positions are in play and one failed to trigger. Plenty of opportunity ahead.

The VMW, BIDU and FSLR positions are alive and well after the market recovered from the initial Apple dip and the earnings miss by Citigroup.

Unfortunately opened lower and never returned to positive territory to trigger the plan. I am canceling that play tonight.

First Solar opened higher, hiccupped and then ran for a $7 gain. The motive power for the move was the approval for a new 230MW plant in California. The company had been awaiting a decision from the LA Board of Supervisors. The board rejected an appeal on environmental concerns and approved the plant. The plant is expected to be completed by the end of 2012.

I am not adding any new plays tonight. Eventually we should get a decent dip we can buy.

Jim Brown

Current Portfolio

Current Position Changes


Cancel this play from Sunday. The stock opened lower on Tuesday and the play was not triggered.

New Recommendations


New Long Term Recommendations

None - Waiting for a "real" market dip

New Aggressive Recommendations


Margin Requirements:

There are several different formulas for determining margin requirements for naked put writing. These are normally broker specific and some can require larger margin requirements than others.

Here is the most common margin calculation for naked puts.

100% of the option premium + ((20% of the Underlying Market Value) - (OTM Value))

For simplicity of calculation simply use 20% of the underlying stock price and you will always be safe. ($25 stock * 20% = $5 margin)