9:00am (EST)

Acuity Brands (AYI, $55.44, up $1.33)

May 50 puts (AYI120519P00050000, $0.70, down $0.35)

Entry Price:  $0.60 (4/12/12)
Exit Target: $1.20
Return:  17%
Stop Target:  None

Action:  Our near-term target is for a drop below $50, possibly down to $45.  The 200-day MA is at $50.92.

 

LinkedIn (LNKD, $105.90, up $8.24)

May 82.50 puts (LNKD120519P00082500, $0.95, down $0.55)

Entry Price:  $0.90 (4/12/12)
Exit Target: $1.80
Return:  6%
Stop Target:  None

Action:  Shares could trade down to $80 by mid-May and our first target is for a test down to $90 over the next week or so.

 

Caterpillar (CAT, $106.44, up $4.69) 

May 92.50 puts (CAT120519P00092500, $0.80, down $0.60)

Entry Price:  $0.85 (4/12/12)
Exit Target: $1.70
Return:  -6%
Stop Target:  None

Action:  We are looking for a quick trip back under $100 which would be bearish and could lead to $90.

 

PowerShares QQQ (QQQ, $67.21, up $0.76)

May 65 puts (QQQ120519P00065000, $0.85, down $0.30)

Entry Price:  $1.00 (4/11/12)
Exit Target: $2.00
Return:  -15%
Stop Target:  None

Action:  A close above $68 would be bullish going into next week while a close below $66.50 would favor the bears.

 

Deckers Outdoor (DECK, $62.90, down $0.25)

May 50 puts (DECK120519P00050000, $0.60, flat)

Entry Price:  $0.50 (4/11/12)
Exit Target: $1.00
Return:  20%
Stop Target:  None

Action:  The 52-week low is $61.27 and the 2-year chart shows a test to $50 could be coming.

 

First Solar (FSLR, $22.00, down $0.50)

May 18 puts (FSLR120519P00018000, $1.05, up $0.05)  

Entry Price:  $0.90 (4/11/12)
Exit Target: $1.80
Return:  17%
Stop Target:  None

Action:  Shares traded down to $21.60 yesterday and we still expect a drop below $20 is on the horizon.  

 

Tiffany & Company (TIF, $67.37, up $0.61)

May 62.50 puts (TIF0519P00062500, $0.75, down $0.20)

Entry Price:  $1.05 (4/9/12)
Exit Target: $2.10
Return:  -29%
Stop Target:  80 cents

Action:  We have a near-term target of $60 for Tiffany.    

 

Lululemon Athletica (LULU, $73.13, up $0.07)

May 67.50 puts (LULU120519P00067500, $1.40, flat)

Entry Price:  $1.05 (4/4/12)
Exit Target: $2.10 (closed half at $1.60 on 4/11/12)
Return:  43%
Stop Target:  $1.20 (Hard Stop)

Action:  Our near-term target calls for a test down to $66, possibly $60.

 

C.H. Robinson Worldwide (CHRW, $64.53, up $0.53)

May 60 puts (CHRW120519P00060000, $0.70, down $0.20)

Entry Price:  $0.65 (4/4/12)
Exit Target: $1.30  (closed half at $0.90 on 4/11/12)
Return:  23%
Stop Target:  65 cents

Action:  The 52-week low is $62.30 and we still expect a trip below $60 is forthcoming, possibly $55.

 

Potash (POT, $43.50, up $0.74)

April 42.50 puts (POT120421P00042500, $0.40, down $0.35)

Entry Price:  $0.55 (3/29/12)
Exit Target: $1.10 (closed half at $0.95 on 4/10/12)
Return:  23%
Stop Target:  None

Action:  If shares are in the red by our afternoon update, we may leave the trade open.  If not, we will lock-in profits and we may try to roll the trade into some May options.

 

Other 2012 Portfolio OPEN positions (8):  These are trades that are still open in the portfolio that have longer expiration dates or are on “hold” but are not worth mentioning until they turn around.  This means we would not open any new positions.  We are still keeping track of the trades and we will record the results, accordingly, when we close them or the options expire.  Click on the 2012 Portfolio link in the Members Area to view ALL open/ closed trades.

 

magicJack VocalTec April 30 calls (from March 2012)

E*Trade Financial July 12 calls (from March 2012)

Bank of America January 12.50 calls 2013, July 12 calls (from March 2012)

Acme Packet April 40 calls (from February 2012)

Dendreon May 22 calls (from January 2012)

Silver Wheaton April 42 calls (from March 2012)

U.S. Oil Fund April 45 calls (from February 2012)

Sony April 22 calls (from February 2012)

 

WATCH LIST SECTION

These trades are NOT recommendations.  They are trades that we like but have not added to the portfolio as an official recommendation because of market conditions or because we are waiting for better entry prices.  We try not to have more than 12-15 open trades at any one time which is why we created a Watch List.  We will not list entry prices because these stocks are on the verge of breaking out or they could sell off.

 

Green Mountain Coffee Roasters (GMCR, $43.62, up $0.41)

May 35 puts (GMCR120519P00035000, $1.25, down $0.10)

Thoughts:  We would love to see a pop to $45 today which is where we are looking to establish positions.

 

Netflix (NFLX, $104.26, up $4.45)

April 90 puts (NFLX120421P00090000, $0.20, down $0.40)

May 80 puts (NFLX120519P00080000, $1.60, down $0.70)

Thoughts:  Shares fell below $100 on Wednesday for the first time since late January.  Shares could fall back down to $75.

 

Apache (APA, $94.90, up $2.09)    

May 85 puts (APA120519P00085000, $0.85, down $0.45)

Thoughts:  Watch for now.

 

Sears Holdings (SHLD, $58.85, up $0.19)

May 45 puts (SHLD120519P00045000, $1.10, up $0.10)

Thoughts:  Watch for now.   

 

Apollo Group (APOL, $37.17, up $0.91)

May 36 puts (APOL120519P00036000, $1.05, down $0.35)

August 30 puts (APOL120818P00030000, $0.85, down $0.15)

Thoughts:  Watch for now.     

 

MGM Resorts (MGM, $13.86, up $0.26)    

January 17.50 calls 2013 (MGM130119C00017500, $0.80, flat)

Thoughts:  We would love to see these options drop to 50 cents or less which is where we will start small positions.

 

Scientific Games (SGMS, $11.47, up $0.15)     

July 12.50 calls (SGMS120721C00012500, $0.65, up $0.05)

Thoughts:  Shares could be headed to $10 which is where we may look to establish a longer-term play.