9:00am (EST)

Caterpillar (CAT, $80.46, down $0.49)

May 77.50 puts (CAT130518P00077500, $1.40, up $0.20)

Entry Price:  $1.25 (4/18/13)
Exit Target:  $2.50
Return:  12%
Stop Target:  60 cents

Action:  Shares traded to a low of $80.05 and we have been calling for a drop to the $70’s.  The 52-week low is $78.25 and earnings are due out Monday.

 

Sina (SINA, $46.54, down $0.40)

May 40 puts (SINA130518P00040000, $0.67, up $0.04)

Entry Price:  $0.67 (4/18/13)
Exit Target:  $1.35
Return:  0%
Stop Target:  None

Action:  We have a near-term target of $40 once $45 cracks but there is risk to $48-$50 on a back test.

 

Spider S&P 500 (SPY, $154.14, down $0.97)

May 150 puts (SPY130518P00150000, $1.45, up $0.30)

Entry Price:  $1.35 (4/18/13)
Exit Target:  $2.70
Return:  7%
Stop Target:  None

Action:  The S&P Spiders could trade down to $152.50 over the near-term and we would like to see $155 hold on a rebound.

 

PowersharesQQQ (QQQ, $67.17, down $0.95)

May 66 puts (QQQ130518P00066000, $0.90, up $0.30)

Entry Price:  $0.80 (4/18/13)
Exit Target:  $1.60
Return:  13%
Stop Target:  None

Action:  The QQQ’s could trade to $65 on further weakness.  Resistance is at $68 which served as prior support.

 

FedEx (FDX, $91.87, down $2.25)

May 90 puts (FDX130518P00090000, $1.65, up $0.75)

Entry Price:  $0.95 (4/17/13)
Exit Target:  $1.90 (closed half at $2.15 on 4/18/13)
Return:  100%
Stop Target:  $1.25 (Hard Stop)

Action:  We closed half of the trade at $2.15 yesterday when shares were pushing $90 and we have set a Hard Stop of $1.25 on the other half.

 

Freeport-McMoRan Copper & Gold (FCX, $28.05, up $0.05)

May 26 puts (FCX130518P00026000, $0.55, down $0.10)

Entry Price:  $0.75 (4/17/13)
Exit Target:  $1.50
Return:  -27%
Stop Target:  None

Action:  Shares trade down to a 52-week low of $27.24 before rebounding to clear $28.  There is risk to $30 but we have a price target of $25 by mid-May for FCX.

 

Symantec (SYMC, $23.56, down $0.22)

May 25 calls (SYMC130518C00025000, $0.30, down $0.05)

Entry Price:  $0.60 (4/11/13)
Exit Target:  $1.20
Return:  -50%
Stop Target:  None

Action:  Shares could be headed for a test to $22 and with resistance at $24, we could get trapped in a trading range.  Let’s see where the stock is at during halftime and we will make a decision then.

 

Keryx Biopharmaceuticals (KERX, $7.61, down $0.13)

June 10 calls (KERX130622C00010000, $0.35, down $0.05)

Entry Price:  $0.70 (2/12/13)
Exit Target:  $1.40
Return:  -50%
Stop Target:  None

Action:  Near-term support is at at $7.50 with $7 serving as backup.  We would like to see a close above $8 today or next week.

 

Other 2013 Portfolio OPEN positions (9):  These are trades that are still open in the portfolio but are down over 50%.  They have longer expiration dates and 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 if the options expire.  Click on the 2013Portfolio link in the Members Area to view ALL open/ closed trades.

 

Facebook April 29 calls (from February 2013)

Sony April 18 calls (from March 2013)

Cisco Systems April 22 calls (from March 2013)

Ironwood Pharmaceuticals April 20 calls (from March 2013)

May 20 calls (from March 2013)

Baidu April 75 puts (from March 2013)

Cyberonics April 40 puts (from February 2013)

iShares Dow Jones Transportation Average April 100 puts (from February 2013)

Taiwan Semiconductor April 20 calls (from January 2013)

MGM Resorts International June 15 calls (from February 2013)

 

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 but these are the trades we are watching as new candidat

 

Spider Gold Shares (GLD, $134.30, up $1.43)

May 120 puts (GLD130518P00120000, $0.45, down $0.30)

June 115 puts (GLD130622P00115000, $0.65, down $0.30)

Thoughts:  The Gold ETF could drop to $100 over the next few months.

 

Bank of America (BAC, $11.44, down $0.26)

June 12 calls (BAC130622C00012000, $0.35, down $0.07)

Action:  Support has been solid at $11.75 since early March and there is further help at $11.50, or the 100-day MA.  We are waiting for a trip past $12.50 before possibly going long.

 

iShares Russell 2000 (IWM, $89.58, down $0.50)

May 90 puts (IWM130518P00090000, $2.40, up $0.40)

Thoughts:  We would wait for a close below $92 before possibly going short.