Daily Update

If you follow me on twitter you would know we had some exciting action today. IMAX hit $21 a 52 week high around 11am EDT and pulled back down to $20.55. Around 15:52 EDT IMAX broke 21 on decent volume and made a new 52 week high of $21.19. At 15:55 I put in a limit order to sell my September Call @ 4.90. This was a long shot in my mind because the bid was 4.70 and the ask was 5. at 15:57 (3 minutes before the close) my order was executed and I made off like a bandit. $273 profit +127%.
Here's a list of the trades I made today:

Sold GLW May 22.50 Call     @ .31      +    $2        +    7.67%
Sold (2) C June $5 Call         @ .19      -   $32        -   48.27%
Sold INTC July $24 Call        @1.06     +    $6        +    6.19%
Sold SWC May $17.50 Call   @1.35     +  $43        +  47.86%
Sold IMAX Sept $17.50 Call @4.90     + $273       + 127.00%

Originally Invested:       $508
Realized Profit:               $292
Return On Investment:      57.5%

Also picked up 1 USO July $42 Call @ 1.47

Current open positions:
(2) SIRI June $1 Call        @  .15          Sell Limit @ .25
(1) DWA June $45 Call    @ 1.40          Trail Stop @ .25
(1) USO July $42 Call      @ 1.47      Stop:1.15 Limit: 1.10

I will watch IMAX after hours trading tonight to see if I can get some insight into how it will move tomorrow. I do not have a problem playing IMAX to the upside again soon, I just wanted to take some profits. DWA has their Q1 earnings release tomorrow after market close which could effect IMAX. Look to see $21 as a support for IMAX.

I am also looking to enter a trade in FLS tomorrow. I noticed a channel forming which I may play long or short depending on its move AH tonight and at market opening.

If you decide to play this trade be careful. FLS is a very volatile stock, often making > 2% moves a day and this channel is about $6.75 wide or about 6%. Here is two trades I am looking at on FLS:
If it bounces off 119.40 level:
May $115 Puts trading around 2.20  Delta: -0.20  Gamma: .052
If it breaks through on good volume:
May $125 Calls trading around 1.50  Delta:   .15  Gamma: .04

Would need to see a big move to make a decent profit on these trades. For example a $1 move positively on each trade would theoretically yield:
May $115 Put:   +  $20     +9%
May $125 Call:  + $15    +10%

And a $2 move would theoretically yield:
May $115 Put:   +  $45.2     +20.5%
May $125 Call:  + $34        +22.7%

DWA EPS earnings estimate: .19
Last year actual: .68