The Options Trader
105 W. Monument Street
Baltimore, MD 21201
Thursday, May 20, 2004
Email – #170
** Hewlett Packard Comes Through and Insider Buying at Motorola
Hewlett Packard (NYSE: HPQ), one of our hedged LEAPS came through
with a stellar earnings report on Tuesday and projected even better
times ahead. The shares moved up more than 5% on the news. We are
looking for HPQ to get to the mid-20s for an exit.
This just in… Ed Zander’s name just popped up on my screen. Ed is
the current CEO at Motorola (NYSE: MOT). His tenure has been marked
by the greatest resurgence in the company’s modern history. I guess
he continues to like what he sees going forward. He just bought 15,000
shares on the open market at prices in the high $19s – this should bode
well for our Motorola $20 2006 call options (WMA-AD). These options
remain a buy up to $3.70.
Regards,
Karim Rahemtulla
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Current Portfolio:
Company / Symbol: Motorola (NYSE: MOT)
Option / Symbol: Jan 06 $20 call (WMA-AD)
Date Purchased: 5/5/04
Current Price: $3.80
Comment: Buy up to $3.70. TS is $1.85.
Company / Symbol: Lockheed Martin (NYSE: LMT)
Option / Symbol: Jan 06 $55 call (WLA-AK)
Date Purchased: 4/7/04
Current Price: $2.70
Comment: Hold. Sold call against Jan 06 $50 position.
Company / Symbol: Lockheed Martin (NYSE: LMT)
Option / Symbol: Jan 06 $50 calls (WLA-AJ)
Date Purchased: 3/15/04
Current Price: $4.60
Comment: Hold. No trailing stop.
Company / Symbol: Yellow Freight (Nasdaq: YELL)
Option / Symbol: Jan 06 $40 calls (YBQ-AH)
Date Purchased: 4/7/04
Current Price: $3.75
Comment: Hold. Sold call against Jan 06 $35 position.
Company / Symbol: Yellow Freight (Nasdaq: YELL)
Option / Symbol: Jan 06 $35 calls (YBQ-AG)
Date Purchased: 3/10/04
Current Price: $5.70
Comment: Hold. No TS.
Company / Symbol: Placer Dome (NYSE: PDG)
Option / Symbol: Sell Jan 06 $25 call (YDI-AE)
Date Purchased: 4/1/04
Current Price: $1.00
Comment: Hold. Sold call against Jan 06 $20 position.
Company / Symbol: Placer Dome (NYSE: PDG)
Option / Symbol: Jan 06 $20 call (YDI-AD)
Date Purchased: 1/23/04
Current Price: $1.70
Comment: Hold. No TS.
Company / Symbol: Hewlett Packard (NYSE: HPQ)
Option / Symbol: Sell Jan. 06 $30 call (WPW-AF)
Date Purchased: 2/3/04
Current Price: $0.95
Comment: Hold. Sold call against Jan 06 $25 position.
Company / Symbol: Hewlett Packard (NYSE: HPQ)
Option / Symbol: Jan 06 $25 call
Date Purchased: 12/10/03
Current Price: $2.05
Comment: Hold. No TS.
Company / Symbol: Nokia (NYSE: NOK)
Option / Symbol: Sell Jan 06 $30 call (WIK-AF)
Date Purchased: 2/9/04
Current Price: $0.15
Comment: Hold. Sold call against Jan 06 $30 position.
Company / Symbol: Nokia (NYSE: NOK)
Option / Symbol: Jan. 06 $22.50 call (WIK-AX)
Date Purchased: 8/29/03
Current Price: $0.55
Comment: Hold. No TS.
Company / Symbol: Chesapeake Energy (NYSE: CHK)
Option / Symbol: Sold Jan 06 $15 call (WZY-AC)
Date Purchased: 11/6/03
Current Price: $2.10
Comment: Hold. Sold call against Jan 06 $12.50 position.
Company / Symbol: Chesapeake Energy (NYSE: CHK)
Option / Symbol: Jan 06 $12.50 call (WZY-AV)
Date Purchased: 7/28/03
Current Price: $3.10
Comment: Hold. No TS
Company / Symbol: S&P 500 MITT (AMEX: MCP)
Date Purchased: 7/18/03
Current Price: $10.22
Comment: Buy under $10. No TS
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