Overall 46% stocks, 54% cash and equivalents. Stocks position up 2% since last week due to new positions in SXCI and RIMM.
MYGN was the big winner on the week. Earnings came in Tuesday better than expected and the stock rallied big and was up over 10 points. Bought the stock last Thursday at 74.3 and sold the Feb 75 call for 4, so the most I could make on this position was 4.7 points. Nothing left to do here but wait for option expiration.
Finally, we got a good rally in the S&P’s. Since holding the recent lows, the SPY is bouncing off the bottom of a channel. Price-time pattern indicates we should see 92 in the March timeframe and 100 in the April timeframe. Synopsis: wait for a rally then sell March 92 calls and sell 100 calls in April. I’m already long 3 lots of SPY in each account for an average price of 85. May add longs next week if market remains positive.
Enjoy the weekend.