Time for Consolidation

Yesterday, I sold my Jan 2011 $55.00 call in TEVA Pharmaceutical (TEVA) at $7.75 for a 28% gain. I'm trying to consolidate some of my positions to free up cash for some larger moves in the near future. During certain times of the year, I'm involved in 15 - 20 different stocks, puts/calls, etc, which is a hassle to keep track of at one time.

With my recent sell-off, I have narrowed my number down to six and will probably eliminate another two, which are American International Group, INC (AIG) and YRC Worldwide, INC (YRCW). These were both purely speculative plays, which did not pan out, so it's time to get them off the books.

TEVA Position

I sold out of my position in Teva Pharmaceuticals (TEVA) today within the first 5 minutes of the market open @ $58.24 for a very small gain of just over 3%. I still have my Jan $55.00 call option.

Pulled Trigger on BUCY

I closed out my Bucyrus International INC. (BUCY) on January 6th @ $64.39 for a modest 12% gain. However, it looks as if I pulled the trigger a bit early because its closing price on Friday was $67.28.

Going in to this week, I'm keeping my options open for my shares of DryShips (DRYS) and Teva Pharma (TEVA), but if they make a nice upwards run, then I will probably lock in some profits.