Editors Note:

The market appears to be headed south as May comes to a close. We are positioned heavily bearish in the current portfolio with 3 call positions and 8 put positions. I believe we are correctly positioned and after today's decline none of my watch list stocks offered what I considered a killer entry point. I am recommending we stand aside on Wednesday and hold what we have. The FOMC minutes are probably going to produce some market volatility at 2:PM and it could be in either direction. We have no reason to step into that traffic with a new play.


NEW DIRECTIONAL CALL PLAYS

No New Bullish Plays


NEW DIRECTIONAL PUT PLAYS

No New Bearish Plays