With the market acting poorly, yesterday we closed out the Suntech September 9 call option and the iShares MSCI Canada (EWC) ETF September 34 call option. We also added the Hartford Insurance (HIG) September 27 put option. Financials in general have been sloppy and Hartford is a prime candidate to decline further. The option is a buy up to $2.45.   The Hartford trade joins several other positions we have on the short side of the market. The International Gaming Technologies (IGT) October 18 put option can be purchased by new clients up to $1.80 per contract. A close below $17.35 for the stock would set the stage for a move down to the $16.30 area, which would fill a big gap in its chart price. Advanced Micro Devices (AMD) also has a gap in its price chart that dates to around the same time last month, down around $8.30. In this case, however, the stock should fall below that mark, so we rate the Advance Micro Devices (AMD) October 8 put a buy up to $0.75. We’ve downgraded the Life Technologies (LIFE) August 55 put option to a hold after the move it has made. The stock has a bit of support near its current level and we want to see how it behaves here.   Read More

Sell to close the Suntech Power (STP) September 9 call option, at the market. Sell to close the iShares MSCI Canada ETF (EWC) September 34 call option, at the market. Buy to open the Hartford Financial Services (HIG) September 27 put option, using a limit order to pay no more than $2.45 per contract. Read More

We’ve had a busy day this morning. We closed out the Nabors (NBR) September 31 call option after it took out support on the heels of oil and gas prices dropping over concerns the economy is slowing. In its place, we added the International Gaming Technologies (IGT) October 18 put option, which is a buy up to $1.85 per contract.   Earlier today, we Masco (MAS) July 13 put option at breakeven. Despite continued weakness in the housing sector and the economy as a whole, the stock has displayed decent relative strength, shaking our faith in the trade. In its place, we added two new short positions, the Advance Micro Devices (AMD) October 8 put, which is a buy up to $0.79 and the Life Technologies (LIFE) August 55 put option, which is a buy up to $3.40 per contract.   Also since the last update, with time quickly running out (but not the attractiveness of the play), we closed the Suntech Power June 9 call option at a loss and rolled the position into the Suntech (STP) September 9 call option. It is a buy for new clients at the current price.   Gold and gold shares remain a top choice given the uncertainties in today’s world. We own the Barrick Gold (ABX) July 50 call option and the stock of Gabriel Resources (GBU.TO, GBRRF). Both are buys at current levels.   Read More

Sell to close the Nabors Industries (NBR) September 31 call option at the market. Buy to open the International Gaming Technology (IGT) October 18 put option with a limit order set at $1.85.   Crude oil and natural gas prices remain under pressure on signs the economy is slowing. Despite… Read More

Sell to close the Masco (MAS) July 13 put option at the market. Buy to open the Advanced Micro Devices (AMD) October 8 put option, using a limit order to pay no more than $0.79 per contract. Also buy to open the Life Technologies (LIFE) August 55 put option, using… Read More