PCLN was on a tear to the upside after 10:45 posting.

PCLN calls were on order for this day!!!

Trading Date: 4/08/2011 Stock Traded: NFLX Option Strike NFLX AprWk2 235 Put. Expiration 4/08/2011 # of Contracts 100 Entry Price: .64 Exit Price: .79 Commission: $300 total in and out Fees: $2.46 total in and out Reason for getting in: The overall market has been a chop-fest to a say the least. And on an intra-day basis this appears to be a good time to play to the downside. Quick and the Dead, Scapling is your best trading tool during these market times.

This one did not workout as well as the other one. There is still some time left on it, however, the Delta is .10 for every dollar the stock moves and we are 4 dollar away from being in the money on this one.

Updated on TIBX Day's High was the goal. In .85 out 1.00; caution to these markets, as we head into earnings season. Surf's Up!!

TIBX APR 27 11 C limit .85

Should close out for the earnings release on Mar 29, 2011.

APOL APR 44 11 C limit 1.75

InPlay Earnings: MCP is release their earnings report after the bell at 4:30PM; will have to see how this opens tomorrow morning.

MCP 49.00 Mar 11 C

MCP 49.00 Mar 11 P

Weeklys or Monthlys, humm. Straddle the stock price, but do not feel that this options will hold much value in overnight session. Also, 1 Day % Percentage Group - Basic Materials where at the bottom of list.

We will see in the morning on this one.

ISRG responsed with a profitable trade this morning session and will have to see where it goes from here.... In 6 and out at 7 = $1.00 dollar gain for this option play.

Interesting week to say the least about a chop fest. Once the market got a good direction the market revised into the other direction.

Sold
USO 40.00 MAR 11 C
USO 40.00 MAR 11 P

Could have be premature, but a profit is a profit in this market.

ISRG Apr 330.00 11 Call

See how it opens first, this thing has a nasty bid and ask spread.

WAIT! Before you get into a trade, make sure you check the news to make sure that they are not coming out with their earnings reports or releasing any other type of financial information.

We are currently holding the USO 40 MAR 11 Call and USO 40 MAR 11 Put. This will allow us to be InPlay for a weekend of uncertainty. USO has a weekly price range of 2.81 per share. Weekly Range: 37.79 low - 40.60 hi = 2.81. Added to current price: 39.68+ 2.81 = 42.49 or 39.68 - 2.81 = 36.87

Purchased USO MAR 40 Call
Purchased USO MAR 40 Put

Purchased AAPL 330 FEB 11 Put 1.06

Purchased AAPL 355 FEB 11 Call 1.12

Monday Feb 21 is a Market Holiday - Washington's Birthday

JDSU was a bad decision, all around...

Expired Worthless (No Selling)

Purchased JDSU 26.00 FEB 11 C .27

We thought that this company would been on the upside, at least for the first part of the morning, little did we know that Citigroup downgraded the stock in the morning. Techs started to their "TANKAGE"...

Open .11 to over 1.60 = nice payoff.

Sold AAPL 365 Feb 11 C 2.07

Purchased AAPL 365 Feb 11 C 1.70

Sold AAPL 360 Weeklys Call .27

Purchased AAPL 360 Weeklys Call .21

Apple was strong out the gate, however, once we got in it started to stall/move sideways. This was the most important reason, due to OpEx was today for these options. Friday's intended to be very explosive profits, but AAPL decided not to make the usual moves up or down.

AAPL was on a roar this morning and then late afternoon the AAPL drop to a downward roar only bounce back.

Sold AAPL 360 Weekly Put 4.41

Purchased AAPL 360 Weekly Put 3.94

Option Penny Pilot Program. The minimum increments for all classes in the Penny Pilot (except for the QQQQs, IWM and SPY) are: $0.01 for all options series below $3 (including LEAPS), and $0.05 for all option series $3 and above (including LEAPS). The minimum increment for all option series in QQQQ, IWM and SPY is $0.01.

• $0.01 for all option series below $3 (including LEAPS)
• $0.05 for all option series $3 and above (including LEAPS)

Go To https://www.cboe.org/hybrid/pennypilot.aspx

Click here for a .CSV file of Penny Pilot classes and listing issues.

Available Weeklys Options

Go To http://www.cboe.com/micro/weeklys/availableweeklys.aspx

Click here for a Weeklys Options listing issues.

We believe that investors would like to see strike price for option increments narrow, just like the spreads. "The retail clients are interested in trading options at or near the money," The implication of these desires is that the options industry is not out of the woods yet. CBOE also has 160,000+ strike prices now and is looking at increasing the book depth available to investors.

The increments between strike prices will vary depending on current stock price.

• Stock prices below $25 have options prices that are in $2.50 strike price increments.
• Stock prices above $25 are in $5.00 strike price increments.

Strike prices stay at $5.00 increments all the way up to $200, when they become $10 increments. Some very liquid and/or lower priced stocks have strike prices in $1.00 increments, as do many ETF's (Exchange Traded Fund) such as the QQQQ.

I love weekly options, in the fact they are like a lotto ticket. With every click of the mouse a trade is done, you have a chance of winning at least a couple thousand buckaroos -- or breakeven to flat.

Weekly options have a good percentage of odds in your favor, if done correctly. Best time to trade the weekly options is during the last two days of trading life of the option, which is on Thursday and Friday. This trade must be closed out before the closing bell on friday or you'll have a total loss of the weekly option.

AAPL Options Trading


Sold AAPL 345 Weekly Put .03

Purchased AAPL 345 Weekly Put .96
_________________________

Sold AAPL 345 Weekly Call 1.31

Purchased AAPL 345 Weekly Call 1.00
__________________________

Sold APPL 345 Weekly Put .60

Purchased APPL 345 Weekly Put .44

Gap range was pretty hugh with the news that they were selling the Insurance arm to another party.

BAC 14 Call, was purchase yesterday a loss and was sold today for a gain. BAC 14 put will expire worthless tomorrow on OpEx.

Why did NFLX trade go bust. After a long consideration of this trade, we where on the wrong side of this this trade and should have cut our losses. This trade was placed after the earnings report which was good and the market responded with the stock moving higher. We decided to play the gap fade at the open and 10:30am fade. Well the fade at the open would have been the better and best trade of the day. But we fell short, taking the later trade and got caught in the machine wash.

Bouncing all over the place and going higher, the stock went. We believe it was the end of the month thing the institutions need to push something higher, as AAPL and GOOG reported they were punished, as well was AMZN.

NFLX for some reason does not play fair, sofar in this market. They had a 25% float short sell and the outgoing CFO, stated that you should not be short this stock. There are far move ppl staying at home, due to the economic times.

NFLX was a bust, used a smaller size.

AAPL was a successful full size.

Earnings for this week on a Weekly Options Play

NFLX, POT

RIMM 65.00 JAN 11 WK3 C - Price range was .38 x .50 on 1/7/2010 - Stock needs to retest the 62.50 level by Friday's expiration. Las Vegas - CES, maybe some interesting news for this company.

Looking like a gift wrapped present on the way for LVS, gapped and dropped below opening price range, hummm . . . .

Jan 4, 2011 earnings are to be annouced.

The following is an option chart for the Las Vegas Sands. Entry point was at the near-high of the day and we were able to get out alive, due to a lot of whip sawing on the 1 min charts.

GOOG 600.00 DEC 10C Weekly Option Expire on 12/23/2010; instead of Friday due to the Holiday schedule.

GOOG Swing Trade

GOOG DEC 600
GOOG DEC 580
Option Ex 12/17/2010

After Hour Market

Netflix Inc. NFLX 201.65 +10.60 5.55% 338.48 k

Standard & Poor's Announces Changes to U.S. Indices
Dec. 9, 2010 (PR Newswire) --

NEW YORK, Dec. 9, 2010 /PRNewswire/ -- S&P will make the following changes to the S&P 500, S&P MidCap 400 and SmallCap 600 Indices after the close of trading on Friday, December 17:


S&P MidCap 400 constituents F5 Networks Inc. (Nasdaq: FFIV), Netflix Inc. (Nasdaq: NFLX) and Newfield Exploration Co. (NYSE: NFX) will replace The New York Times Co. (NYSE: NYT), Office Depot Inc. (NYSE: ODP) and Eastman Kodak Co. (NYSE: EK) in the S&P 500, and, likewise, The New York Times, Office Depot and Eastman Kodak will replace F5 Networks, Netflix and Newfield Exploration in the S&P MidCap 400 index.

Buy To Open

NFLX 210.00 DEC 10C
NFLX 165.00 DEC 10P
Exp 12/7/2010
Looking for 1.80;either side

"In Play"

Netflix (NFLX) CFO resigned last night putting some fear out there so the stock gapped down quite a bit afterhours. Optionable 190/200.

Netflix Inc. NFLX 186.17 -3.64 -1.92% 384.48 k

Has comeback a lot from this morning, but we will see.

Stocks In Play

Priceline.com Inc. PCLN

418.54 +4.43 1.07% 4.91 k

Google Inc. GOOG

577.00 +4.00 0.70% 7.35 k

Average Volume Over +1 Milion

NASDAQ

AAPL AMZN GOOG NFLX PCLN RIMM

NYSE

GS IBM POT

EFT

GLD SPY

Heavy Short Interest

NFLX RIMM SPY

NASDAQ Dollar Decliners


Company Symbol Last Chg % Chg Vol
Apple Inc. AAPL 316.32 -1.83 -0.58% 221.4 k
Google Inc. GOOG 570.00 -1.82 -0.32% 9.73 k
Wynn Resorts Ltd. WYNN 101.90 -1.57 -1.52% 600
priceline.com Inc. PCLN 401.50 -1.49 -0.37% 300
Amazon.com Inc. AMZN 175.43 -1.10 -0.62% 25.19 k


NYSE Dollar Decliners


Company Symbol Last Chg % Chg Vol
BECTON DICKINSON A BDX 61.00 -19.76 -24.47% 100
CHIPOTLE MEXICAN G CMG 244.00 -6.96 -2.77% 22.2 k

Job numbers worse than expected, ho hummm. GS upgraded the market yesterday and market went bananas.

Today will see if we can take out the 122.95 level on the SPY and UUP continues to drop to make it happen.

Top Weekly Options for the remainder of the year.

AMZN

AAPL

GOOG

NFLX

When getting ready for your trading day, you will want to check the index futures as well as important economic news for the day. By knowing what direction the futures are moving, you can better gauge which direction to possibly trade.

SPY

QQQQ

If the 1 & 2 minutes charts base out and then start to head up, go long on the stock. After the stock gaps up with a spike in volume and the price hits a top, a trader would short as the 1 minute interval starts to roll over. Sometimes the stock will continue to move higher through the rest of day.

The ideal candidate will have to be the SPY and UUP for this type of market. Well, not so, we believe you need to pick your battles and plan accordingly.

This market was a wack job from the beginning of time, since Ben and the Boys have been missing with it. Can't beat'em join them.

SPY Weekly Options 119c/117p was a profitable trade, however there was a lot of paper left in that printing press.

Jobs #s??