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March Option Update

|Includes:HUSA, Jabil Circuit Inc. (JBL), LDK, RDWR, STX, WNR, XRTX

It appears that LDK Mar $5 put will require buy to close costing approximatley $.12. To continue earning time premium and working down our original cost basis I would recommend Sell to Open LDK Jun $5 put for $1.20.

As I said in my last post, STK will be closed on the buy/write at $21 for a tidy profit. As will JBL at $21 and RDWR at $31.

I discussed rolling up on the strike for WNR but given the market strength WNR has moved outside the range that I would recommend chasing it so I am recommending taking the profit and closing the buy/write at $16.

XRTX Mar $15 call will be called away closing our position in XRTX, for now.

Therefore, the only action needed today is to buy to close LDK Mar $5 put and Sell to Open LDK Jun $5 put.

I will recommend replacements early next week for STK, JBL, RDWR, WNR and XRTX which all closed with nice profits.

Watch HUSA on the bounce today for another chance to short. I wouldn't recommend shorting unless HUSA gets back to $10 but would point anyone to the balance sheet to review the "plenty of cash" statement made by the company in their update today.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.