While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Bill Davis, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
I know we have plenty of time on the KMI long calls, but I really don't like the way they are trading. At the time of the recommendation, KMI was trading about $15.95. As I write this, the stock has risen to around $16.66 or almost 70 cents higher. The call options have gone from $1 to around $1.28 in that time. Basically, this is because the delta is so low. As a result, I am going to suggest you close the position and move on. Sell to Close September $16 call for $1.28. This will result in a 28% return for holding the calls for about two weeks.