The LEAPS Trader
105 W. Monument Street
Baltimore, MD 21201
Friday, April 27, 2007
Email – #369
** Mr. Softie Comes Through
Microsoft reported better than expected earnings last night and the shares have rallied this morning on a slew of upgrades. This bodes very well for our $30 LEAP, which still has 8 months to go before expiration. Expect the shares to be choppy in the following days, but to establish a firm uptrend going into the next quarter’s earnings. We will sell into strength when the time is appropriate.
Good trading,
Karim
Current Portfolio:
Company / Symbol: Coeur D’Alene (NYSE: CDE)
Option / Symbol: Jan. 09 $2.50 call (ZYB AZ)
Date Purchased: 4/17/07
Current Price: $2.10
Comment: Hold.
Company / Symbol: General Motors (NYSE: GM)
Option / Symbol: Jan. 08 $27.50 put (WGM MY)
Date Purchased: 3/13/07
Current Price: $2.55
Comment: Hold.
Company / Symbol: Nasdaq 100 Index (Nasdaq: QQQQ)
Option / Symbol: Jan. 08 $40 put (WD MN)
Date Purchased: 11/27/06
Current Price: $0.61
Comment: Hold.
Company / Symbol: Nasdaq 100 Index (Nasdaq: QQQQ)
Option / Symbol: Jan. 08 $48 call (YWZ AV)
Date Purchased: 11/27/06
Current Price: $2.60
Comment: Hold.
Company / Symbol: Microsoft (Nasdaq: MSFT)
Option / Symbol: Jan. 08 $30 call (WMF AF)
Date Purchased: 8/8/05
Current Price: $1.95
Comment: Hold.
Company / Symbol: S&P 500 MITT (AMEX: MCP)
Date Purchased: 7/18/03
Current Price: $13.28
Comment: Hold.
Company / Symbol: Chesapeake Energy (NYSE: CHK)
Option / Symbol: Jan. 08 $35 call (WZY AG)
Date Purchased: 4/25/06
Current Price: $2.55
Comment: Hold.
Company / Symbol: Advance Micro Devices (NYSE: AMD)
Option / Symbol: January 2009 $35 call (VVV AG)
Date Purchased: 6/21/06
Current Price: $0.30
Comment: Hold.
Bull & Bear Spreads
Company / Symbol: Freeport (NYSE: FCX)
Option / Symbol: Jan. 09 $60 call (OMT AL)
Date Purchased: 3/5/07
Current Price: $17.90
Comment: Hold.
Company / Symbol: Freeport (NYSE: FCX)
Option / Symbol: Jan. 09 $70 call (OMT AN)
Date Purchased: 3/5/07
Current Price: $13.00
Comment: Hold.
Company / Symbol: GoldCorp (NYSE: GG)
Option / Symbol: Jan. 09 $30 call (OPJ AF)
Date Purchased: 6/9/06
Current Price: $3.30
Comment: Hold.
Company / Symbol: GoldCorp (NYSE: GG)
Option / Symbol: Jan. 09 $40 call (OPJ AH)
Date Purchased: 6/9/06
Current Price: $1.30
Comment: Hold. Sold call against January 09 $30 position.
Company / Symbol: Teva Pharmaceutical (Nasdaq: TEVA)
Option / Symbol: Jan. 08 $40 call (WTX AH)
Date Purchased: 5/23/06
Current Price: $3.10
Comment: Hold.
Company / Symbol: Teva Pharmaceutical (Nasdaq: TEVA)
Option / Symbol: Jan. 08 $45 call (WTX AI)
Date Purchased: 5/23/06
Current Price: $1.05
Comment: Hold. Sold call against January 08 $40 position.
