Thursday, December 17, 2009
ITZ PIX Intraday Update; RIMM, AUY & SLW
Research in Motion (RIMM) reports after the close today. They should beat earnings expectations...however the key metric will be "guidance" in 2010.
related story ...read
Suggest hedging RIMM, BUY Jan. $55 PUT option currently $1.10 Ask ticker RFY-MK
Itz Pix Updates on Yamana Gold (AUY) & Silver Wheaton (SLW):
For those that own these suggested Itz Pix portfolio stocks and have sold covered calls against them here's an update....
Silver Wheaton (SLW) current open position December $16 call (SLW-LE) expires tomorrow currently trading bid 0/ask 5 cents. You can buy to close or let the option expire tomorrow and keep the premium. I don't see SLW spiking to over $16, but for peace of mind its up to you to close the position on the call option.
Entered SLW in September @ $12.66, sold Dec $15 call (SLWLC) for $1.10, bought back to close for $1.40 on November 11th. Simultaneously sold a DEC $16 call for $0.85, bottom line cost basis is $12.11
As for Yamana Gold (AUY): the January $14 Call option (AUYAP)was sold for $0.90 back on Oct. 8th, suggest buy back to close for $0.10 netting $0.70 and lowering the initial cost basis from $8.50 to $7.70.
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