3/3 Thursday MIT update -

Master Income Update -

Thursday, 3 March 2011

Good morning!

Well let’s dive in.  Here’s what I’m doing so far on this Thursday.  On a side
note, FFIV is brand new out with weekly options!  Since I’ve got a long position
on FFIV (I bought some LEAP, Jan 2012 100 calls), and also via selling some
puts, I had 500 shares put to me a few weeks back.

Anyway – I really like FFIV as it’s one of the purest players in the whole
“cloud computing” revolution that’s coming whether any of us like it or not.

It brings a whole new scale effect to computing, and the leaders (like FFIV)
are jumpy and volatile…but mostly they lurch up (they missed earnings
projections in Jan, but the stock is a horse that just had covered too much
ground too quickly perhaps).

Anyway – that’s a new weekly as of this morning!!!

Here’s what I’m doing so far:

I’m doing an overwrite on all of my AMZN.  I’ve 20 sold this week at the 180
calls (which will expire worthless), and I’m selling 20 more for next week at
the 175 call strike.

I’m doing the same on MSFT.  This one is boring, but I’ve got 5,000 shares and
I’m selling next week’s 27 calls.  I’m letting tomorrow’s 27 calls expire
worthless.

I’ve got 20 of my 70 calls on BIDU sold at this week’s 125 calls…I’m selling
next week’s 125 calls (another overwrite).

I’m rolling up and out of IBM, I have this week’s 160 calls sold on it, I’m
buying these back and selling next week’s 165 calls.

I’ve got a bunch more to do, but wanted to get you updated so far.  Of course
there’s some to do today – but a whole bunch too come tomorrow!

Over and out for now.

–P

P.S.  Gotta love this snapback in the market.  I figured the oil scares
were the excuse the market wanted to sell off and take profits..but it’s
obvious the overall trend right now is to the upside…buying stocks is the
comfortable thing to do..but it has been choppy as hell!  -P