LVLT Covered Call Trade 5-14-07

I sold a few LVLT call options today. I sold the May 5.00 for .50 cents. So I made $100 on this trade. I am not planning on selling the common stock, so this was strictly a monthly income play.

UPDATE 5-21-07: Well as it turned out, I was called out on my option. So I had to sell my 200 shares of LVLT at $5.00 per share. This trade actually became a loss due to the fact that when you get called out you have to pay a manual commission fee. $17 bucks for each option that gets exercised. I paid $34.00 when I got called out!!! Plus the commission I paid when I bought the stock, and when I sold the covered calls. So all in all the total commission was $64.50! Bottom line this trade ended up being a 10% loss!

Amazon.com, Inc. (AMZN) Trade 4-27-07

With Amazons incredible run in the last 3 days, I am betting on a pull back. What goes up in a straight line always comes down. So I bought some put options. I bought the May 60 put ZQNQL

UPDATE 4-21-07: Put expired worthless. 100% loss!

Dendreon Corporation (DNDN) Covered Call Trade 4-23

I bought DNDN this afternoon so I could sell a CC. I sold the May 15 call (UKOEC) at $5.10. So I made $510.00 on this trade so far. So after May 18th when the call expires I will sell my stock shares. At that time I will add or minus the difference in the price of the stock from when I bought it.

DNDN was/is on a nice uptrend today. It was up $1.88 when I bought it. When selling a CC you always want the stock to be on a nice rally.

UPDATE 5-14-07: Ok this stock got hammered last week down $11.00 ($1,100.00), so I bought back my May 15 covered call for .05 cents ($5.00). So I made a little under $400.00 on the cover. I then sold the May 7.50 for .55 cents, making $55.00. I then bought 10 Aug 7.50 call options for .40 cents ($400.00), UPDATE 5-23-07-Aug 7.50 call is currenty at .80 ($800.00). Stock is up to around $7.00. I have to work around this to make my $1,100 loss back.

UPDATE 5-31-07: Dendreon Announces FDA Confirms Data Required for Provenge(R) Licensure..... WOOHO! I sold my 10 Aug 7.50 calls this morning at 2.40 for a 500% profit!!!!!!!!
This complete trade is now in the black big. I will figure out the total % gain after I sell the common stock. I may sell a June 10 CC for .70 to make $70.00 more.

My Million Dollar Portfolio

So I 've been playing the Million Dollar Portfolio game on CNBC. http://contests.cnbc.com/milliondollar/main.do

There is over 870,000 accounts playing in the game. I have two accounts, both of which are in the top 11%. In the last 4 and a half weeks I have made $120,000 in one account and $111,000 in my other account. The contest is full of professionals and celebrities that get professional advice on how to play the game. I am my own!!! I take in data from several different sources, then check them out. I then make my picks, some are from the info I gathered from my sources and some are completely my own. I am in the TOP 11% in both accounts. NOT bad.......

UPDATE 4-24-07: There are over 1,200,000 players now. I am in the the top 14th percentile now. Yahoo screwed my gains up...

NEUROCHEM INC (NRMX) Covered Call Trade 4-10-07

I bought 100 shares of NRMX this morning and sold the Apr. 17.50 Call option for $2.15. The option expires on April 20th, so if the stock price does not reach or exceed 17.50 by 4-20 I will not be call out (asked to sell my 100 shares). Either way it doesn't matter to me as long as the staock price does go up some till 4-20. I will be selling NRMX on or around 4-21. My profit is already $215.00 plus how ever much the stocks goes up till 4-20, or minus how ever much the stock goes down till 4-20.

UPDATE 4-23-07: So I said I was going to sell my shares after the CC expired on 4-20. That would be today 4-23 that I was going to sell. I made $215.00 when I sold my CC. The stock is down a little over 3 points from where I bought it. So over all I am down about 100 bucks on this total trade. I am not selling my shares today cause it looks to be gaining some momentum and has gone up .34 cents so far today. I am going to let this one run and watch it for a while.

UPDATE 4-27-07: I sold my shares today. It's just not bouncing back enough to hold on to any longer, so I am letting this one go. The stock price is down from where I bought it, but I sold a Covered Call (CC) to generate income. Over all this trade was a 7% Loss. If I had never sold the CC this trade would have been a 20% loss. So you can see how CC's can protect your ass (ets)

Apple Inc. (AAPL) Covered Call Trade 4-9-07

I sold my first covered call option today. I sold 1 APPLE May 100 call for $2.25. Each option is 100 shares of stock. So I got $225.00 bucks for giving the buyer the option/right to buy 100 shares of APPLE from me at $100 bucks per share. It's a win win for me.....
To learn what a covered call is, click here.

Duke Energy Corporation (DUK) trade 4-3-07

Bought some Duke Energy (DUK) call options today. Bought the July 22.50 call. The energy sector is in bullish mode and on an up trend. Duke is up 3.76% so far this year.

Pride International, Inc. (PDE) Trade 3-16-07

Bought some PDE July 35 calls on Friday. Got this play from an options site. There was very high volume on this call. Target is 100%.

UPDATE 5-25-07: I sold my calls for PDE this morning. I felt there is going to be a correction soon, so I wanted to take my profits. This trade made 121% gain!!!

Garmin Ltd. (GRMN) Trade 3-16-07

Bought some GRMN 55 calls on Friday. Garmin seems to be on a nice trend. My target is 100% gain.

UPDATE 4-23: Option pretty much expired worthless. It was automatically sold for a mere $60. So I marking this one down as a 100% loss.

AT&T Inc. (T) Trade 3-09-07

I bought some AT&T today. It looks like it is just about to break through resistance at around 37. It's been in a nice upward trend. I may have got in this a few days early but I still think it will be a good trade. I'll be looking to sell around 38, unless it is clearly going higher.

Update 3-26: I sold AT&T this morning. I think it has hit a new resistance....
This trade made a 5.7% gain.