Current Portfolio:


CALL Play Updates

ADSK - Autodesk - $29.26 Change +0.10 Stop $27.50

The market refuses to go down and ADSK is still inching higher. There is no change from my prior comments. ADSK is overbought and due for a correction. I am raising our stop loss to $27.95 to reduce our exposure. I am not suggesting new bullish positions in ADSK at this time.

Current Position: CALL APR 30.00 (ADSK 10D30.00) @ $0.55

Entry on March 8th at $ 28.72
Earnings Date 02/24/10 (confirmed)
Average Daily Volume = 2.75 million
Listed on March 6th, 2010


Cash America - CSH - close: 40.23 change: -0.41 stop: 35.95

We were expecting some profit taking in CSH. Shares hit $39.81 before bouncing back. This may take some patience. The plan is to buy calls on a correction near support at $38.00. Our trigger to open positions is at $38.25. If triggered our first target is $41.00. Our second target is $44.00. Our time frame is several weeks.

Use a trigger at $38.25 to buy calls.

Suggested Position: BUY CALL APRIL $40 (CSH 10D40.00) current ask $1.95

Entry on March xxth at $ xx.xx
Earnings Date 04/22/10
Average Daily Volume = 272 thousand
Listed on March 13th, 2010


Cognizant Technology - CTSH - close: 50.85 change: +0.05 stop: 48.95

CTSH briefly dipped under its rising 10-dma before bouncing back into positive territory. The trend is certainly up but some of the technical oscillators like the RSI and MACD are suggesting the upward momentum is losing steam. More conservative traders may want to scale back their position size. If the market corrects I would expect CTSH to correct with it. I hesitate to launch new positions but a close over the current high near $51.31 could be used as an entry point. Our initial target is $54.75. FYI: Don't go overboard just because the option looks cheap. If CTSH does correct the value will vanish.

Current Position: BUY CALL APRIL $55 (CTSH 10D55.00) @ 0.40

Entry on March 11th at $ 50.54
Earnings Date 05/04/10
Average Daily Volume = 4.05 million
Listed on March 10th, 2010


Green Mountain Coffee Roasters - GMCR - cls: 93.09 chg: +0.44 stop: 83.45

GMCR displayed some volatility today but that's pretty normal for this stock. The early morning rally reversed at $94.65 and traders then bought the dip at $91.12. We need to be patient and wait for our entry point. If the market corrects GMCR could easily retrace back toward the $88 or $85 levels. Currently the plan is to buy calls at $88.00 but more conservative traders could wait for a dip closer to $85.50. I do consider this an aggressive trade because shares of GMCR can be so volatile. If triggered at $88.00 our first target is $93.00. Our second target is $99.00 but that could take a few weeks.

Use a trigger at $88.00 to buy calls

Suggested Position: BUY CALL APRIL $90 (GMCR 10D90.00) current ask $5.80

Entry on March xxth at $ xx.xx
Earnings Date 04/29/10
Average Daily Volume = 1.17 million
Listed on March 13th, 2010


Mobile Telesystems - MBT - close: 56.26 change: -0.81 stop: 51.90

MBT erased Friday's gains with a 1.4% decline on Monday. If the market corrects I would expect MBT to pull back toward the $54.00 or the $52.50 region. Readers may want to wait on launching new positions and buy calls on the rebound. More conservative traders may want to use a tighter stop loss with a plan to exit positions if the market retreats. Our first target to take profits is at $59.85.

Suggested Position: BUY CALL APR 60.00 (MBT 10D60.00) @ 1.10

Entry on March 12th at $ 56.34
Earnings Date 03/31/10 (unconfirmed)
Average Daily Volume = 1.26 million
Listed on March 11th, 2010


NII Holdings Inc. - NIHD - close: 40.26 change: -0.31 stop: 37.90

NIHD tagged a new 52-week high this morning at $40.84. While the trend is up some of the technical indicators are suggesting that momentum is waning. More conservative traders might want to raise their stops or scale back their position size. If the market really corrects we could get stopped out. More aggressive traders may want to consider new positions on a new closing high (above $40.60) or buy a bounce from $39.00. Our first target is the $44.00 level.

Suggested Position: BUY CALL APRIL $40 (NIHD 10D40.00) @ $1.85

Entry on March 11th at $ 40.10
Earnings Date 04/22/10
Average Daily Volume = 2.68 million
Listed on March 10th, 2010


Panera Bread Co. - PNRA - close: 78.03 change: -1.12 stop: 74.75

PNRA suffered another day of profit taking with a 1.4% pull back. I would wait for another bounce near the $75 or $76 levels before considering new positions. Remember, this is an aggressive trade with both PNRA and the market so overextended. Our first target is $82.45. FYI: It is worth noting that PNRA could announce a stock split one of these days. The last time shares split was in the $75-80 zone back in June 2002.

Suggested Position: CALL APR 80.00 (PNRA 10D80.00) @ $1.35

Entry on March 11th at $ 77.18
Earnings Date 04/28/10
Average Daily Volume = 519 thousand
Listed on March 9th, 2010


TEVA Pharmaceuticals - TEVA - close: 60.98 change: -0.32 stop: 59.75

I know I'm starting to sound like a broken record on TEVA but traders should stay cautious. Friday's failed rally and today's decline combined with the waning technical indicators make it look like TEVA is about to roll over. I am inching up our stop loss to $59.95. More conservative traders may want to exit early. March options expire this Friday. Our target to exit is currently $63.00.

Current Position: CALL MAR 60.00 (TVQ 10C6000) @ $0.70

Entry on February 20 at $ 58.74
Earnings Date 05/05/10 (unconfirmed)
Average Daily Volume = 5.1 million
Listed on February 20, 2010


PUT Play Updates

*Currently we do not have any put play updates*


CLOSED BULLISH PLAYS

ATHN - AthenaHealth Inc - $37.29 Change -0.84 Stop $36.50

What happened to ATHN today? I couldn't find any news to explain the sell-off. One possible answer was investors looking to exit ahead of the earnings report tonight. The stock fell from $38.00 to $35.83 before paring its losses. Our stop loss was hit at $36.50.

After the closing bell ATHN reported earnings that were only in-line with estimates and missed on the revenue number. Yet shares are trading higher after hours around $39.30.

Closed Position: CALL APR 40.00 (ATHN 10D40.00) about $0.75
entry price was $2.00

Annotated Chart:

Entry on March 8th at $ 39.20
Earnings Date = 03/15/2010
Average Daily Volume = 600,000
Listed on March 6th, 2010


BUCY - Bucyrus International - $63.81 Change -1.02 Stop $62.50

Investors are concerned that the Chinese government is going to raise bank reserve ratios again as an attempt to slow down their economy. If they are successful in slowing down their economy it should mean less demand for commodities. This pushed the mining stocks lower today. Shares of BUCY dipped to $62.41 before paring its losses. Unfortunately the stock hit our stop loss at $62.50 closing the play.

Closed Position: CALL APR 65.00 (BUCY 10D6500) @ $2.45 Entry price was $3.82

Annotated Chart:

Entry on March 1st at $ 62.56
Earnings Date 02/18/10
Average Daily Volume = 1.75 million
Listed on February 28, 2010