CALL Play Updates

*Currently we do not have any call play updates*


PUT Play Updates

FEDEX Corp. - FDX - close: 80.76 change: +0.07 stop: 82.55

FDX struggled all day to rally toward yesterday's highs and then began to roll over with the market late in the session. There is no real change from my prior comments. If FDX bounces look for resistance near $82.00-82.50 and buy puts on a failed rally. If FDX sinks I'd look for a dip under $79.75 or $79.50 as a new entry point. Our first target is $75.25.

Entry  on   January 25 at $ 79.45 
Change since picked:       + 1.31
Earnings Date            03/18/10 (unconfirmed)
Average Daily Volume =        3.0 million  
Listed on   January 23, 2010         


Gymboree - GYMB - close: 39.04 change: -0.73 stop: 42.75

Some of the retail stocks got a bounce out of the better than expected consumer confidence numbers this morning. GYMB was not one of them. The stock failed at $40.00 again this morning and sank to a new relative low. Our first target is $35.50. Our second, longer-term target is $32.00. We are going to use a slightly wider, more aggressive stop loss in case GYMB sees an oversold bounce. Consider using small positions to limit your risk. Over the weekend I suggested the February $40 puts (GQU-NH).

Entry  on   January 23 at $ 39.74 
Change since picked:       - 0.70
Earnings Date            03/04/10 (unconfirmed)
Average Daily Volume =        513 thousand 
Listed on   January 23, 2010         


Infosys Tech. - INFY - close: 54.06 change: -0.44 stop: 56.25

The early morning bounce attempt in INFY failed near $55.00 and shares settled right at support at the 50-dma. INFY looks fragile here and poised for a breakdown in spite of being short-term oversold. There is no change from my prior comments. I am suggesting we use a trigger at $53.40 to open small put positions. If triggered our first target is $50.15. Our second target is $46.50.

Entry  on   January xx at $ xx.xx <-- TRIGGER @ 53.40
Change since picked:       + 0.00
Earnings Date            04/15/10 (unconfirmed)
Average Daily Volume =        1.5 million  
Listed on   January 25, 2010         


Mettler Toledo Intl. - MTD - close: 98.97 change: -0.12 stop: 102.25

Today's session produced another entry point to buy puts. Traders bought the early morning dip near $98.00 but the bounce failed at the $100.00 level. Our first target is $95.25. Our second target is $90.50. Our time frame is a couple of weeks. We do not want to hold over the early February earnings report.

Entry  on   January 22 at $ 99.40
Change since picked:       - 0.43
Earnings Date            02/04/10 (unconfirmed)
Average Daily Volume =        134 thousand 
Listed on   January 21, 2010         


Retail Holders - RTH - close: 91.96 change: +0.46 stop: 95.05

Better than expected consumer confidence numbers from the Conference Board this morning gave stocks and the retailers a boost. Unfortunately for the bulls the rally ran out of steam. I remain bearish on the RTH and would still consider new positions here at current levels. If you think the market needs to bounce first before continuing lower then wait for a failed rally in the $93-94 zone as your entry point. Our first target is the $87.00 level. The 200-dma will probably be support. The RTH moves kind of slow.

Entry  on   January 23 at $ 91.42 
Change since picked:       + 0.54
Earnings Date            --/--/--
Average Daily Volume =        1.7 million  
Listed on   January 23, 2010