Do not risk more than 5% of your trading account on any one trade but do try to take ALL of the trades.  Please remember, ALL “Exit Targets” and “Stop Targets” are targets.  You should not have any “Hard Stops” entered to close any trades or “Exit Orders” in your brokerage account unless we list one.  We will send out a “Profit Alert” or “New Trade” if we want you to close a position OR if a new trade comes out.  Otherwise, follow instructions at all times in the 9am and 1pm updates.  Also, we will usually give you a heads-up if we think we are going to send an email outside of these time frames.  Closed Trades for 2013: 47-29, including the Weekly Wrap that is 14-1)9:00am (EST)

9:00am (EST)


MGM Resorts International
(MGM, $15.70, up $0.09)

July 17 calls (MGM130720C00017000, $0.40, flat)

Entry Price:  $0.40 (5/10/13)
Exit Target:  $0.80
Return:  0%
Stop Target:  None

Action:  We are expecting a run to $18 by mid-July and a close above $16 this week would be bullish.  Short-term support is at $14.75.

 

Yahoo (YHOO, $26.39, down $0.44)

July 28 calls (YHOO130720C00028000, $0.70, down$0.15)

Entry Price:  $0.75 (5/8/13)
Exit Target:  $1.50
Return:  -7%
Stop Target:  None

January (2014) 31 calls (YHOO140118C00031000, $1.00, down $0.05)

Entry Price:  $1.05 (5/8/13)
Exit Target:  $2.10
Return:  -5%
Stop Target:  50 cents

Action:  We are expecting a run to $30 over the next few months for Yahoo, $35 by yearend.  Short-term support is at $25.50 followed by $24.

 

Financial Select Sector Spiders (XLF, $19.31, up $0.06)

June 19 calls (XLF130622C00019000, $0.55, up $0.05)

Entry Price:  $0.50 (5/8/13)
Exit Target:  $1.00
Return:  10%
Stop Target:  None

Action:  Shares are on the verge of a breakout and we are looking for a run past $20.  Support is at $18 but we will likely close the trade if shares fall below $18.50.

 

Beam (BEAM, $67.59, up $0.08)

June 70 calls (BEAM130622C00070000, $0.95, flat)

Entry Price:  $0.65 (5/7/13)
Exit Target:  $1.30
Return:  46%
Stop Target:  65 cents

Action:  We are looking for a push past $68 this week.  Support is at $65.

 

Clean Energy Fuels (CLNE, $13.41, up $0.03)

June 14 calls (CLNE130622C00014000, $0.40, flat)

Entry Price:  $0.55 (5/6/13)
Exit Target:  $1.10
Return:  -27%
Stop Target:  None

Action:  We think a run to $15 is still in the mix and a close above $14 would be bullish.  Support is at $12.

 

Solazyme (SZYM, $10.75, up $0.44)

June 10 calls (SZYM130622C00010000, $1.05, up $0.25)

Entry Price:  $0.35 (4/25/13)
Exit Target:  $0.70 (5/10/2013 closed a quarter @ 65 cents)
Return:  171%
Stop Target:  None

Action:  Shares reached $11.02 yesterday and we are expecting a run to $12 over the near-term.  The options reached a peak of $1.23.  We believe shares will reach $15 over the next 6 months.  Support is at $10.

 

SAIC (SAI, $14.89, down $0.07)

August 15 calls (SAI130817C00015000, $0.55, flat)

Entry Price:  $0.40 (4/24/13)
Exit Target:  $1.20 (5/10/2013 closed half @ 60 cents)
Return:  42%
Stop Target:  40 cents

Action:  The chart is still bullish and calling for a run to $16.  Support is at $14 but if there is further slippage today we may cut the cord and move on.

 

Keryx Biopharmaceuticals (KERX, $8.75, up $0.53)

June 10 calls (KERX130622C00010000, $0.40, up $0.10)

Entry Price:  $0.70 (2/12/13)
Exit Target:  $1.40
Return:  -43%
Stop Target:  None

Action:  We got our close above $8.50 that should lead to another spike or pop past $10.  Support is at $8.

 

Other 2013 Portfolio OPEN positions (4):  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.

Ironwood Pharmaceuticals May 20 calls (from March 2013)

Spider S&P 500 May 150 puts (from April 2013)

PowersharesQQQ May 66 puts (from April 2013)

ADT May 46 calls (from April 2013) – Our breakeven point is $46.50 by this Friday

 

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 candidates.

 

Michael Kors Holdings (KORS, $60.98, up $0.62)

June 70 calls (KORS130622C00070000, $0.95, up $0.20)

August 75 calls (KORS130722C00075000, $1.20, up $0.15)

Thoughts:  The 52-week high is just north of $65 and we think shares will retest this level and could push $70 by mid-July.

 

Regeneron Pharmaceuticals (REGN, $280.51, up $7.01)

May 270 calls (REGN130518C00270000, $11.40, up $3.70)

May 290 calls (REGN130518C00290000, $1.80, up $0.80)

June 300 calls (REGN130622C00300000, $7.20, up $2.10)

Action:  Shares stayed in a tight range for 4 days before Friday’s pop above $270.  A close above $280 should get our $300 target in play and there could be a quick trade in the May 290 calls if we like the momentum.

 

Lumber Liquidators Holdings (LL, $89.28, up $0.30)

June 100 calls (LL130622C00100000, $0.80, up $0.10)

Thoughts:  Shares are at a fresh 52-week peak.

 

Boeing (BA, $94.76, up $0.52)

June 100 calls (BA130622C00100000, $0.66, up $0.12)

Thoughts:  We should have been in Boeing once shares cleared $80.  In any event, we may be able to catch the move past $100.

 

Goodyear Tire & Rubber (GT, $12.67, down $0.18)

July 13 calls (GT130720C00013000, $0.50, down $0.10)

Thoughts:  The 52-week high for the stock is $14.65.  If shares can run to $15 by mid-July these options would be worth $2 for a 300% return.  These are “cheap” options on a solid stock that could make a run to new 52-week highs and has been a laggard during the bull market run over the past 6 months.

 

Petr (PBR, $18.84, down $0.03)

July 20 calls (PBR130720C00020000, $0.52, down $0.03)

October 21 calls (PBR131019C00021000, $0.70, down $0.05)

Thoughts:  The 2-year chart is showing a possible run to $25 if $20 clears.  Support at $18.

 

Genworth Financial (GNW, $10.65, up $0.21)

June 11 calls (GNW130622C00011000, $0.35, up $0.05)

September 12 calls (DNW130921C00012000, $0.50, up $0.05)

Thoughts:  .We could go long on a close above $10.75.

 

JPMorgan Chase (JPM, $49.67, up $0.71)

June 50 calls (JPM130622C00050000, $1.15, up $0.40)

Thoughts:  We like these call options for a move past $50.

 

Bank of America (BAC, $12.98, down $0.04)

June 13 calls (BAC130622C00013000, $0.40, down $0.05)

Thoughts:  Near-term support is at $12.50 and the uptrend line at $12.  A move above $13.50 would be bullish for a push to $14-$15.

 

Nasdaq OMX Group (NDAQ, $30.48, down $0.02)

June 31 calls (NDAQ130622C00031000, $0.75, flat)

June 32 calls (NDAQ130622C00032000, $0.45, flat)

Thoughts:  We are expecting a push to $32 as long as short-term support at $30 holds.

 

Vertex Pharmaceuticals (VRTX, $80.15, down $0.28)

June 87.50 calls (VRTX130622C00087500, $1.60, down $0.25)

July 90 calls (VRTX130720C00090000, $1.35, down $0.15)

Action:  We believe shares are on their way to par which is Wall Street gibberish for $100.  Support is at $75 but a break below this level would be short-term bearish following the surge from $55.  We could go long on a move back above $80 or short on a print below $75.

 

Littelfuse (LFUS, $70.88, up $0.37)

May 70 calls (LFUS130518C00070000, $1.35, up $0.10)

Thoughts:  Shares are near 52-week peaks and a move past $70 could lead to a jailbreak to $75-$80 on momentum.

 

Cyberonics(CYBX, $47.31, up $0.34)

June 50 calls (CYBX130622C00050000, $1.60, up $0.30)

June 40 puts (CYBX130622P00040000, $0.55, down $0.15)

Thoughts:  Resistance is at $50 and we are expecting a drop below $40 over the next month, or 2.