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Weekly Wrap 11/12/10: APA, RIMM, RIG

|Includes: Apache Corporation (APA), BB, RIG

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It was volatile week, as waves of profit-taking went against waves of dip-buying.  CSCO's earnings certainly didn't help.  Friday's global pullback, including gold and oil, handed the market its first meaningful weekly loss since the beginning of September, as investors ponder upon China's rising inflation.  We booked some nice gains earlier in the week and stopped out of some of our long positions on Friday.  Here are the closed trades for the week, notable trades include a +118% gainer on APA and other winners in RIG and RIMM:

November 12, 2010
12:35 | HappyTrading CME ($289.30) Sold to Close 11C290 Nov 290 put, at $4.40 +13%
10:20 | HappyTrading MOS ($79.95) Sold to Close 11C70 Nov 70 calls, at $1.79 -54%
07:43 | HappyTrading AAPL ($313.90) Sold to Close 11C320 Nov 320 calls, at $2.15 -39%
06:44 | HappyTrading CRM ($117.10) Sold to Close 11C120 Nov 120 calls, at $3.70 +1%

November 11, 2010
12:27 | HappyTrading FCX ($107.80) Sold to Close 11C110 Nov 110 calls, at $1.90 +14%
07:45 | HappyTrading RIMM ($58.30) Sold to Close 11C57.5 Nov 58 calls, at $1.85 +25%

November 10, 2010
12:05 | HappyTrading RIMM ($59.10) Sold to Close 11C57.5 Nov 58 calls, at $2.50 +69%
07:58 | HappyTrading CMG ($229.50) Sold to Close 11P220 Nov 220 put, at $1.90 -24%

November 09, 2010
12:34 | HappyTrading MOS ($72.50) Sold to Close 11C75 Nov 75 calls, at $1.20 -35%
08:17 | HappyTrading AKAM ($51.15) Sold to Close 11C50 Nov 50 calls, at $2.20 -28%
08:13 | HappyTrading MEE ($45.10) Sold to Close 11C44 Nov 44 calls, at $2.13 +26%
07:44 | HappyTrading RIG ($68.95) Sold to Close 11C65 Nov 65 calls, at $4.50 +67%
07:21 | HappyTrading TSL ($29.75) Sold to Close 11C27 Nov 27 calls, at $3.00 +40%

November 08, 2010
11:12 | HappyTrading RIG ($67.60) Sold to Close 11C65 Nov 65 calls, at $3.50 +30%
10:51 | HappyTrading APA ($109.50) Sold to Close 11C100 Nov 100 calls, at $9.60 +118%

Next week is options expiration week.  It'll be very interesting given where the market is at, fighting SPX 1200!  We'll take a close look in my weekly Market Forecast tomorrow.

Have a wonderful Saturaday!

Good night and HappyTrading! ™ (click to see our Facebook Page)