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New Positions

PFE

In a post a while back that I can't seem to track down I mentioned that I was interested in PFE as it traded closer to 17 and it 200 day moving average. PFE is currently trading right on its 200 day moving average and it seems to be acting as support.



I am buying 5 17 Jun '10 calls @ .80 for a total of $400.

Stop: 16.75 ($130)

Entry: 17.23

Target: 19 ($610)

Risk vs Reward: about 1:5

I would be interested in selling the 16 puts if this name pulled back further.

COP

I am also interested in COP. I am looking at buying a ratio spread in August. More specifically I like the idea of selling the 50 put and buy 2 of the 52.50 calls. I can put one of these trades on for 1.12.


Stop: Break of 200 day currently at 48.26. Risk (335)

Entry: 51 ish

Target: 56-58 ($700-$1000) Reward

Risk vs Reward: about 1:2 to 1:3

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