In a previous OptionMaestro.com post, I outlined 30 stocks which I wouldn't mind going long at these levels. I wrote about getting long the stocks by using the buy-write option strategy. This is an updated post to that one, adjusting the strikes and prices accordingly for options expiration today.

With just 1 day left being Friday July 17, 2009, for the July options expiration, there are still several Buy/Write option strategies which will yield high returns (considering the probabilities and it is just 1 trading day). In this post I am using the highly volatile Direxion ETF shares, which seek to return 3 times a specific basket of stocks.

After reading a lot of blog posts, tweets on twitter, Facebook comments, and emails, I decided it was time to figure out the real decay behind the leveraged ETF's, both long and short. As I wrote about this in one of my previous blog posts, I wanted to revisit this issue of the double and triple leveraged ETF's, and why investor's should stay away from them, and to clear up some confusion.

As promised in Alternate Short Strategy: Purchasing Put Protection for Less, I will be continuing my list of alternate ways to hedge your portfolio without shorting the stock. In this post (part 2) I will be covering the stocks from 21 to 35 on the list of 50 (ranked by market cap).