A Couple Of Position Updates

Hey Tidetraders who followed me on RRI and all, I am shaving a piece off the RRI my 4 calls we entered Tuesday @ .15 and .20. I have shaved some off @ .45 here and looking for further upside in this. Bringing stops on the rest to .30.

Options Chain provided by TOS




HOC

I noticed some nice activity on the Jun 30 call strike, here is a Chart and an Options Chain provided by TOS



I added HOC jun 30 calls @ .85



TPX

We have traded this name several times before and it is back in that channel on the daily. I have also noticed some interesting Call activity in the name.

I added a small position of the jun 40 calls @ .70 will look to add if it pulls back to the bottom of the channel

Here is a Chart showing the channel and Option Chain provided provided by TOS






Remember, you can follow my trades live on Twitter, Stocktwits, and Tidetraders.com

Quick Market overview

Here is a link to a quick market overview of the major indexes and some previously mentioned ETF's to benefit from if the market does decide to decline.

http://www.screencast.com/t/NzBjOWFiODQ

Quick Recap of the Major Indexes

Here is a video link to some market recap of the major indexes and some ETF's that were mentioned in previous posts if the market does decide to turn to the downside.

http://www.screencast.com/t/NzBjOWFiODQ

Positions that Stopped us out

Here is a video link on positions I recently got stopped out of.

http://www.screencast.com/t/Y2U1MTg5

Stocks mentioned in this video include, V, HNZ, TCK, BA, and HLIT

Stopped out V +100% first 1/2 and 50% on 2nd 1/2

Stopped out HNZ - 50% on the 47/50 call spread

Stopped out TCK @ 40.00, - 1.50

stopped out BA @ 67.00, -4.00

Stopped out HLIT @ 6.00 -1.00

Also not mentioned in the video I got stopped out XTEX @ 10.00 for a 1.50 loss from last entry @ 11.50

Update to MED position

Here is a video link to the MED position we took back on 3/26/10, this is an update and my current thoughts on it.

http://www.screencast.com/t/MjVmMWJmODY

Here is a link provided by Stocktwits TV of when we entered the MED position

http://www.stocktwits.tv/talk-your-book-with-dr-phil-pearlman-040110/

Updates on some Gold positions

I shaved another piece off the GG jul 45 calls @ 3.60 today for +2.40 gainer. I have moved my stops up to 2.40 on the rest. Our entry was an avg. of 1.20 on this position.

I also shaved another piece off of SA +7 points, brought stops up to $33.00 for now. I might consider selling some covered calls in my IRA on this position or collar it up. Need to take a closer look at the options for this.

I am still holding and added to make full positions in IAG, CDE, and AUY common.

I added to my AUY jun 11 calls yesterday payed up and brought my basis up to .50. I will look to take 1/2 off this position @ 1.00, it came very close today but I did not get filled, so for those who took this with me keep that in mind, rule of thumb, ya gotta shave some off at a double. I don't care what anyone tells ya!!!

I also added some EGO jul 19 calls @ .75 today

Bullish Activity in MUR

I noticed some bullish activity in MUR today. The thing that caught my eye was the fact that investors are going after the out of the money calls on MUR for the front month. The may 60 calls were purchased between .25 and .35 per contract. With 10 days left and 9 after tonight, these call buyers are looking for some movement to come quickly in this name. The strike does have a Delta of .16 which would be about a 50% gainer if the stock moves up $1.00. The Implied Volatility is fairly priced when compared to the Historical Volatility. The stock needs to close above $60.25 to $60.35 depending on what the premium paid was. If the position is held to expiration the investor will need the stock to move up 8.2% or $4.57 from today's close price of $55.78.

MUR Option Chain, provided by TOS



There was also some action that crossed the tape on the Jun strikes. I like the fact that the IV is below the HV here, so the option is not juiced yet. I will keep an eye on this position and look to possibly enter the Jun 60 call @ 0.90 to 0.95. With a Delta of .26 and a favorable IV to the buyer.

MUR Trade Break Down, provided by Livevol



MUR Option Action, provided by Livevol




MUR reported EPS on 5/5/10 and missed estimates coming in at 0.77 vs. 0.99, this started the selling and then Thursdays and Fridays action continued to push down.
This might be a case of bottom fishing or maybe something else brewing here. At any rate the daily looks like it is setting up for an Inverse H&S pattern which could push MUR back up to the $60.00 area, it will have to contend with the 50 and 200 MA and also the action in the Crude market but I feel it is one to keep on your watch list.

I also like the fact that Crude appears to be at a good area of support. The daily on the crude can be classified as a bear flag and might find further weakness to the 70 level. If that happens and I am in the position more than likely I will get stopped out. I will keep this in mind and see if we get a lift in Crude, also keep in mind how the U.S Dollar trades as it should affect Crude. If the dollar pulls back a bit we can see Crude find a bid.

MUR daily Chart, provided by TOS



I will update if I enter a position in this name.