SURVIVING THE GAME
MARCH 17, 2009
2009 – 22

Happy St. Patrick’s Day. The markets sure are enjoying today. Up across the board on positive home starts and comments from Larry Summers. My position remains the same, bounce, not the start of something huge.

FILLS:

Filled yesterday in SPY MAY $75 straddle at $980.

Filled on uranium basket as follows; 2000 PNP @ $0.98, 1600 MGA @ $1.25, 700 PDN @ $2.64, 700 FRG @ $2.95, 1200 LAM @ $1.68, 2500 UEX @ $0.74, 1400 DML @ $1.43 and 900 UUU @ $2.24.

OPEN POSITIONS:

USO – maybe, just maybe APRIL position has a chance. You are long the $35 and $55 calls. Closed today at $29.44. It’s a stretch to think that the APR calls have much hope but JULY and JAN 2010 look good. Hold.

SU – love it ! Hold

CDN$ - starting to pay off nicely. Still 17 days to expiry. CDN$ closed at 78.80. 7900 straddle closed at 222, down 18 today. Move exit stops to 7650 and 8150.

SPY APR $74 straddle. Closed at $767. Sold at $745. Hold

SPY MAY $75 straddle. Closed at $970. Sold at $980. Hold

Uraniums – Bought basket for total of $15,757.00 Closed today at $16,813.00 Takeover rumors swirling about PDN and possibly MGA. I think that is about the worst thing that could happen. After falling from $9.00 per share in April 2007, I would hate to see MGA taken out for $3.00 per share or something cheap like that. Your not into these for a quick buck, you want to see them move up 5-10x over the next 5-10 years. But, we’ll see what becomes of the rumors. Hold, no stops.

NEW TRADES:

No new trades.

Options Guy
Editor
Surviving The Game
optionsguy@shaw.ca