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
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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