More PPL

Pennsylvania Power & Light (PPL), sporting a 5% dividend, at its channel low of 28 and only 25% from its 5 year low versus nearly 100% away from its 52-week high.

Risk is low, reward is high. Near term price target -- $32.50 (top of the channel).

Long term price target -- $42

Buying 2 more lots

Fixed income & Kimbo

Bought 5xConagra 2021 9.75% bonds

Bought Kimberly-Clark (KMB) @ $63

Sales & Hedging

Sold two lots of Kraft (KFT) for $30.50 and all three lots of Hershey (HSY) for $43

Gains of 13% and 27% respectively.

Bought another 100 SDS @ 31.22 with a stop @ 27.50.

More buys

1) Humana 6.45% due 2016
2) Wrote AUY May 11 Put @ 1.1

New positions

New positions in ExxonMobil (XOM) @ 67.60, Dupont (DD) @ 37.50, and Southwest Airlines (LUV) 2016 4.25% bonds

More putting naked

Wrote two RST 20 Jun Puts @ $0.8
Wrote one GRMN 30 July Put @ $0.95

Sold two lots

of RST @ $25 even for a 25% gain. Wrote a $25 June call on RST for $2.24