Monday, November 2, 2009

New position and Position Ideas

Today I picked up a position on EGLE buying shares at 4.75 and selling Dec 2009 Calls @$0.42/contract. I have a max potential profit target on this of about 13.5% for a six week holding period.

I am looking to possibly sell some naked puts again on GE at the $10 strike, which are currently selling for about a $1. I have to wait for some more money to transfer over to my account so I will have to keep you guys updated. But I am looking to sell 10 contracts.

Also on my radar again is FSLR. I am ready to put a SMALL position on this one. Looking to play this by buying a call spread (1-2 spreads). I am currently looking at buying the $115 Jan 11 call and selling the $160 Jan 11 Call which is trading for about $15.40 currently. I have a bid out for $12.50. Not sure it will fall enough to get hit, but we will see. I am also exploring other ways to play it. I will keep you posted.

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