Editor's Note:

Another day of strong economics and a drop in oil prices fueled a rebound in stocks. We saw TD gap open above our first exit target to take profits. I have updated several stop losses below.

-James

Current Portfolio:


CALL Play Updates

Baker Hughes Inc. - BHI - close: 70.21 change: +1.40

Stop Loss: 67.90
Target(s): 74.75, 79.00
Current Option Gain/Loss: -56.8% and -35.6%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: Energy stocks continued to rally even as crude oil futures saw some profit taking on Thursday. BHI is bouncing from support near $68.00 and this continues to look like a bullish entry point to buy calls on this stock. However, there was some news out this afternoon that could impact the stock tomorrow as it gets more widely disseminated.

This afternoon headlines for BHI started to circulate. The company had disclosed in an SEC filing that unrest in Libya and other Mideast countries would cut between 4 cents to 7 cents off their Q1 earnings. BHI announced that their operations in Libya remain closed while operations in Egypt and Tunisia had resumed. Altogether the North Africa and Egypt region accounts for 3% of BHI's revenue. This news was announced during the day and failed to have much impact on BHI's stock price but I'm cautious that it could produce a reaction tomorrow. Readers may want to be on watch for another dip into the $68.50-68.00 zone. As long as BHI holds the $68.00 level I would use the dip as an entry point to buy calls.

Our targets are $74.75 and $79.00.

- Suggested Positions -

Long the March $75 calls (BHI1119C75) Entry @ $1.02

- or -

Long the April $75 calls (BHI1116D75) Entry @ $2.13

Entry on February 28th at $71.74
Earnings Date 05/04/11 (unconfirmed)
Average Daily Volume = 5.3 million
Listed on February 26th, 2010


Peabody Energy Corp. - BTU - close: 69.32 change: +3.37

Stop Loss: 61.75
Target(s): 69.75, 74.00
Current Option Gain/Loss: +40.1%, and +37.5%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: Positive analyst comments, a higher price target, and a bullish market environment all worked together to propel shares of BTU higher. The stock has broken away from its recent consolidation and hit $69.61 intraday. The stock settled with a +5.1% gain. Odds are pretty good BTU will hit our first exit target at $69.75 tomorrow (as long as the jobs number doesn't tank the market).

I am raising our stop loss to $64.75. If you're looking for a new bullish entry point I'd wait for a dip into the $67-66 zone.

Our second target is $74.00. The Point & Figure chart for BTU is bullish with an $80 target.

- Suggested Positions -

Long the March $70 calls (BTU1119C70) Entry @ $1.07

- or -

Long the June $70 calls (BTU1118F70) Entry @ $3.60

03/03 New stop loss @ 64.75

Entry on February 17th at $66.30
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume = 4.6 million
Listed on February 16th, 2010


BorgWarner - BWA - close: 77.62 change: +1.70

Stop Loss: 73.75
Target(s): 79.75, 84.50
Current Option Gain/Loss: -18.1%, and -17.0%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: BWA gapped open higher at $77 and rallied toward short-term resistance near $78. The close over its 10-dma is short-term bullish and would consider new positions here. Our targets are $79.75 and $84.50. Our plan was to use small positions to limit our risk.

SMALL bullish positions

- Suggested Positions -

Long the March $80 calls (BWA1119C80) Entry @ $1.10

- or -

Long the April $80 calls (BWA1116D80) Entry @ $2.47

Entry on February 25th at $76.06
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume = 2.3 million
Listed on February 24th, 2010


Caterpillar Inc. - CAT - close: 104.25 change: +3.28

Stop Loss: 97.90
Target(s): 104.75, 107.50
Current Option Gain/Loss: - 7.4%
2nd Option Gain/Loss: +25.8%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/03 update: The big bounce in the DJIA got a boost from shares of CAT, which were outperforming today given its +3.2% gain. The stock is above its highs from earlier this week and back above the $104 level. If you missed the recent entry point I'd wait for a dip near the $102 area.

- Suggested Positions -

Long the March $105 calls (CAT1119C105) Entry @ $1.35

- or -

Long the April $105 calls (CAT1116D105) Entry @ $2.78

03/03 2nd position (April $105 calls) opened at $2.78
03/02 Buy calls on the bounce.
02/23 Triggered @ $101.00. Option @ $1.35
02/22 Still waiting for a dip to $101.00
02/12 Adjusted our trigger, targets, stop loss and strike price.

Entry on February 23 at $101.00
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume = 6.2 million
Listed on February 5th, 2010


Cerner Corp. - CERN - close: 104.54 change: +2.67

Stop Loss: 97.75
Target(s): 104.85, 109.00
Current Option Gain/Loss: +22.2%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: Our CERN trade is off to a good start. Shares gapped open higher at $102.62 and rallied to a +2.6% gain. This is a new all-time high for the stock. If you missed the entry point this morning I would probably look for a dip into the $103.00-101.00 zone as another entry. Our first target to take profits could be hit tomorrow at $104.85 (the high today was $104.77). Our second and final target is $109.00.

FYI: I want to point out that the most recent data (as of Feb. 15th) listed short interest at 13.9% of CERN's 70-million share float. That definitely seems like a high amount of shorts and fuel for a short squeeze. Plus, the Point & Figure chart for CERN is bullish with a $115 target and what appears to be a relatively fresh quadruple top breakout buy signal.

- Suggested Positions -

Long the April $105 calls (CERN1116D105) Entry @ $2.70

Entry on March 3rd at $102.62
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume = 600 thousand
Listed on March 2nd, 2010


Check Point Software - CHKP - close: 50.44 change: +1.55

Stop Loss: 47.90
Target(s): 54.50
Current Option Gain/Loss: + 0.0%, and +11.7%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/03 update: Traders did buy the bounce from support and CHKP is back above the $50.00 mark. Today's rally add +3.1%. I would still consider new positions now or you could hope for a dip near $49. I prefer the April calls at this point. Our target is $54.50.

- Suggested Positions -

Long the March $50 calls (CHKP1119C50) Entry @ $1.30

- or -

Long the April $52.50 calls (CHKP1116D52.5) Entry @ $0.85

Entry on February 28th at $50.28
Earnings Date 04/26/11 (unconfirmed)
Average Daily Volume = 3.0 million
Listed on February 26th, 2010


Fastenal Co. - FAST - close: 62.35 change: +1.76

Stop Loss: 59.90
Target(s): 67.25
Current Option Gain/Loss: -70.5%, and -24.4%
2nd Position Option Gain/Loss: +20.0%, and +11.1%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/03 update: FAST sprang higher after support near $60.00 held its ground. The stock posted a +2.9% gain. If you're looking for another entry point I'd wait for a dip near $61.

Readers may want to keep in mind that the most recent data listed short interest at 13.6% of the 132 million-share float.

- Suggested Positions -

Long the March $65 calls (FAST1119C65) Entry @ $0.85

- or -

Long the May $65 calls (FAST1121E65) Entry @ $2.25

-2nd Entry as of listed 2/24, Entered 2/25-

Long the March $65 calls (FAST1119C65) Entry @ $0.20

- or -

Long the APRIL $65 calls (FAST1121D65) Entry @ $0.99

02/24 Buy the dip. New Entry (2nd position).
02/23 New entry point @ 60.96. March $65 call @ 0.25, May $65 call @ $1.45
02/22 Entry @ 62.99, NEW STOP @ $59.90
02/19 Adjusted entry point. Buy calls now. Very small positions
02/12 New trigger @ 61.55, new stop loss @ 59.40

Entry on February 22nd at $62.99
Earnings Date 04/12/11 (unconfirmed)
Average Daily Volume = 1.0 million
Listed on February 8th, 2010


FactSet Research Systems - FDS - close: 105.11 change: +1.92

Stop Loss: 99.95
Target(s): 109.50
Current Option Gain/Loss: + 2.3%
Time Frame: 2 to 3 weeks
New Positions: see below

Comments:
03/03 update: Hmm... FDS rallied to the $105 level and then ran out of steam. The stock just hung there churning sideways in a narrow range. I remain bullish but readers may want to start this trade with small positions.

Don't forget we want to exit ahead of earnings. FDS is now expected to announce on March 15th before the opening bell. We'll plan on exiting March 14th at the close to avoid holding over the report.

Given our wide stop loss I would consider this a slightly more aggressive trade so keep your positions small!

small positions - Suggested Positions -

Long the March $105 calls (FDS1119C105) Entry @ $2.15

Entry on March 1st at $105.01
Earnings Date 03/15/11 (confirmed)
Average Daily Volume = 213 thousand
Listed on February 26th, 2010


F5 Networks Inc. - FFIV - close: 114.35 change: +1.15

Stop Loss: 109.90
Target(s): 129.00
Current Option Gain/Loss: -66.6%, and -55.8%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: Stay cautious here! FFIV continues to underperform. The stock posted a +1% gain but traders were selling into strength. I am starting to think we want to exit this trade on any bounce near $120 just to try and recoup some of our capital back. I am not suggesting new bullish positions at this time.

The plan was to use small positions to limit our risk. Our target is $129.00.

SMALL bullish positions

- Suggested Positions -

Long the March $120 calls (FFIV1119C120) Entry @ $5.40

- or -

Long the April $125 calls (FFIV1116D125) Entry @ $6.80

03/03 Turn defensive. Start looking for an early exit.
02/28 Buy the dip, New Entry point.
02/25 FFIV gapped open higher on an upgrade.

Entry on February 25th at $121.00
Earnings Date 04/20/11 (unconfirmed)
Average Daily Volume = 3.7 million
Listed on February 24th, 2010


Fossil, Inc. - FOSL - close: 80.33 change: +4.14

Stop Loss: 74.75
Target(s): 82.00, 88.00
Current Option Gain/Loss: +82.1%, and +57.6%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: FOSL was a big winner today. The stock broke through the short-term trend of lower highs and rallied to a +5.4% gain. The close over $80 is also encouraging and volume picked up on the advance. I would not chase it here. If you're looking for an entry point I'd wait for a dip near $78. We will raise our stop loss to $74.75. Our exit targets are $82.00 and $88.00.

- Suggested Positions -

Long the March $80 calls (FOSL1119C80) Entry @ $1.40

- or -

Long the April $80 calls (FOSL1116D80) Entry @ $2.60

03/03 new stop loss @ 74.75

Entry on February 28th at $76.75
Earnings Date 05/11/11 (unconfirmed)
Average Daily Volume = 1.0 million
Listed on February 26th, 2010


Hess Corp - HES - close: 85.20 change: +0.69

Stop Loss: 81.60
Target(s): 92.25, 98.50
Current Option Gain/Loss: -26.5%, and -24.0%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: HES posted a gain (+0.8%) but failed to keep up with its peers. The OIX rallied +1.7% and the OSX index rallied +1.6%. While this is disappointing the overall picture for HES remains bullish. Readers may want to start positions here but just keep your position size smaller. Alternatively, I recently suggested waiting for a breakout over $86.00 as an entry point.

FYI: Believe it or not the options values didn't move for us today. <-- The Point & Figure chart for HES is bullish with a $107 target. -->

- Suggested Positions -

Long the April $90 calls (HES1116D90) Entry @ $2.60

- or -

Long the May $90 calls (HES1121E90) Entry @ $4.15

03/02 Adjusted stop loss to $81.60

Entry on March 1st at $87.17
Earnings Date 04/27/11 (unconfirmed)
Average Daily Volume = 2.9 million
Listed on February 28th, 2010


IntercontinentalExchange, Inc. - ICE - cls: 129.48 chg: +1.97

Stop Loss: 119.90
Target(s): 138.00, 148.00
Current Option Gain/Loss: -15.6%, and -25.0%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: ICE is still inching higher. The stock is now challenging potential resistance near the $130 level. At this point readers may want to wait for a breakout past $130 before considering new bullish positions. Or you could cross your fingers and hope ICE sees another dip near $125.

Bear in mind that this is an aggressive trade. The stock is volatile and there is a chance that ICE makes an acquisition bid for another exchange. If Wall Street thinks ICE is paying too much the stock will decline on the news. Our targets are $138.00 and $148.00.

I want to warn you that the March options will probably be extremely volatile.

- Suggested Positions - (Small Positions Only)

Long the March $130 calls (ICE1119C130) Entry @ $3.20

- or -

Long the April $135 calls (ICE1116D135) Entry @ $3.40

Entry on February 28th at $127.46
Earnings Date 05/04/11 (unconfirmed)
Average Daily Volume = 938 thousand
Listed on February 26th, 2010


Jones Lang Lasalle Inc. - JLL - close: 98.85 change: +1.67

Stop Loss: 93.30
Target(s): 102.50, 109.00
Current Option Gain/Loss: - 8.5%, and - 2.9%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: JLL posted a +1.7% gain and closed above its 10-dma. I would consider new positions here or you could wait for a move past the $100.00 mark. JLL has see a lot more volatility in the last month so let's keep our position size small to reduce our risk. Our targets are $102.50 and $109.00.

FYI: March options are likely to be very volatile.

- Suggested Positions - (Small Positions)

Long the March $100 calls (JLL1119C100) Entry @ $1.75

- or -

Long the April $100 calls (JLL1116D100) Entry @ $3.40

Entry on February 28th at $97.96
Earnings Date 04/27/11 (unconfirmed)
Average Daily Volume = 386 thousand
Listed on February 26th, 2010


3M Co. - MMM - close: 92.81 change: +1.49

Stop Loss: 88.75
Target(s): 94.50, 99.00
Current Option Gain/Loss: +85.7%, and +76.9%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: Today's +1.6% gain lifted MMM toward its February highs. I would probably look for dips into the $92-91 as our next bullish entry point.

- Suggested Positions -

Long the March $90 calls (MMM1119C90) Entry @ $1.75

- or -

Long the April $95 calls (MMM1116D95) Entry @ $0.78

Entry on February 25th at $89.75
Earnings Date 04/27/11 (unconfirmed)
Average Daily Volume = 3.5 million
Listed on February 24th, 2010


Nike Inc. - NKE - close: 89.84 change: +1.82

Stop Loss: 84.80
Target(s): 88.00, 91.50
Current Option Gain/Loss: +153.5%, and +188.2%
2nd Position Gain/Loss: + 65.6%, and + 45.6%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: The bullish market tone and some generally positive same-store sales figures out of the retail sector helped fuel gains in NKE. The stock is now challenging resistance at $90.00 again. Where it goes from here will probably depend on the market's reaction to the jobs report tomorrow morning.

I am not suggesting new positions at this time. Our final target is at $91.50.

- Suggested Positions - (Small Positions Only!)

Long the March $85 calls (NKE1119C85) Entry @ $2.09

- or -

Long the April $90 calls (NKE1116D90) Entry @ $0.94

2nd position, buy the bounce from $85.50

Long the March $85 calls (NKE1119C85) Entry @ $3.20

- or -

Long the April $90 calls (NKE1116D90) Entry @ $1.86

02/25 New stop loss @ 84.80
02/24 New entry point, buy the bounce from $85.50, Add 2nd position
02/19 Adjusted final target to $91.50
02/18 1st Target Hit @ 88.00. March $85 call @ 3.75 (+79.4%)
02/18 1st Target Hit @ 88.00. April $90 call @ 1.80 (+91.4%)

Entry on February 15th at $85.25
Earnings Date 03/17/11 (unconfirmed)
Average Daily Volume = 2.2 million
Listed on February 9th, 2010


Occidental Petrol. - OXY - close: 103.41 change: +2.62

Stop Loss: 97.90
Target(s): 106.75, 109.75
Current Option Gain/Loss: -24.0%, and + 9.7%
2nd Positions Gain/Loss: +39.2%, and +20.0%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/03 update: As expected OXY delivered a strong bounce from support near $100. Shares actually gapped open at $101.71 and closed with a +2.5% gain. If you're looking for a new entry point you may want to wait for a dip near $102.

Our plan was to use small positions to limit our risk. Don't forget that March calls expire in just less than three weeks.

Small Bullish Positions - Suggested Positions -

Long the March $105 calls (OXY1119C105) Entry @ $1.87

- or -

Long the April $105 calls (OXY1116D105) Entry @ $2.78

-2nd Position on bounce at $100 - Entry March 3rd -

Long the March $105 calls (OXY1119C105) Entry @ $1.02

- or -

Long the April $105 calls (OXY1116D105) Entry @ $2.54

03/03 OXY gapped open higher at $101.71, affecting our new entry
03/02 Buy calls on this bounce near $100 (2nd positions listed)
03/02 New stop loss at $97.90
02/28 Adjusted entry strategy. Buy calls now!

Entry on March 1st at $104.12
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume = 4.9 million
Listed on February 22nd, 2010


Transocean Ltd. - RIG - close: 85.35 change: -0.12

Stop Loss: 79.75
Target(s): 89.50, 94.00
Current Option Gain/Loss: +15.6%, and +12.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: After yesterday's bullish outperformance, shares of RIG underperformed today. The trend is still up and I would still consider new positions right here near $85. Our profit targets are $89.50 and $94.00.

Please note that the March calls will likely be very volatile.

- Suggested Positions -

Long the March $85 calls (RIG1119C85) Entry @ $2.05

- or -

Long the April $85 calls (RIG1116D85) Entry @ $3.60

02/28 RIG hit our trigger @ 84.25

Entry on February 28th at $84.25
Earnings Date 05/05/11 (unconfirmed)
Average Daily Volume = 5.3 million
Listed on February 26th, 2010


Ross Stores Inc. - ROST - close: 72.41 change: +0.38

Stop Loss: 69.75
Target(s): 74.90, 77.75
Current Option Gain/Loss: - 9.3%
Time Frame: 2 to 4 weeks
New Positions: see below

Comments:
03/03 update: The action in ROST today was pretty anticlimactic. The company's February same-store sales were +3.0% versus estimates of +1.4% and yet the stock barely moved. The lack of action in the stock makes me cautious. I am raising our stop loss to $69.75. Our targets are $74.90 and $77.75. However, we will plan to exit ahead of the mid March earnings report.
The Point & Figure chart for ROST is bullish with a $97 target.

- Suggested Positions -

Long the April $75 calls (ROST1116D75) Entry @ $1.60

03/03 New stop loss @ 69.75

Entry on March 1st at $72.55
Earnings Date 03/17/11 (unconfirmed)
Average Daily Volume = 1.1 million
Listed on February 28th, 2010


The Toronoto-Dominion Bank - TD - close: 86.12 change: +3.45

Stop Loss: 80.90
Target(s): 84.00, 89.00
Current Option Gain/Loss: +351.8%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/03 update: Target exceeded. We were lucky today. The data available listed TD's earnings report for mid March (around the 11th). The company actually reported this morning and thankfully the results were positive. Excluding one-time items TD reported a profit of $1.74 (in Canadian dollars:CDN) versus estimates of CDN$1.55. Management raised their cash dividend from CDN$0.61 to $0.66 a share.

The stock gapped open higher at $84.73 and rallied to a +4.1% gain. Shares hit $86.87 intraday. Our first profit target to exit was at $84.00 so the gap open exceeded our target. Our March $80 calls opened at $6.00 (+344%). I would not chase it here. TD could see some post-earnings profit taking. I am raising our stop loss to $80.90. Our final target remains $89.00. No new positions at this time.

- Suggested Positions -

Long the March $80.00 call (TD1119C80) Entry @ $1.35

03/03 new stop loss @ 80.90
03/03 Target exceeded. Gap higher at $84.73 vs. target $84.00
03/03 March $80 call opened @ $6.00 (+344.4%)
02/28 New stop loss @ 78.40
02/26 New stop loss @ 77.90
02/16 New stop loss @ 76.90

chart:

Entry on February 11th at $78.89
Earnings Date 03/03/11
Average Daily Volume = 583 thousand
Listed on February 10th, 2010


Proshares Ultra(long) Russell 2000 - UWM - close: 47.55 change: +2.07

Stop Loss: 43.49
Target(s): 49.75, 54.00
Current Option Gain/Loss: - 7.2%, and +24.0%
Time Frame: 6 to 8 weeks
New Positions: see below

Small Positions - UWM Position -

Long the April $48 calls (UWM1116D48) Entry @ $2.75

-2nd position (entry 2/25)-

Long the April $47 calls (UWM1116D46) Entry @ $2.50

02/26 New stop loss @ 43.49
02/25 April $47 call opened at $2.50
02/24 Add another position, April $47 calls
02/14 UWM opened at $46.90. Option opened @ $2.75

iShares Russell 2000 - IWM - close: 82.80 change: +1.84

Stop Loss: 79.20
Target(s): 84.95, 87.25
Current Option Gain/Loss: - 0.0%, and +28.9%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/03 update: Small caps rebounded along with the rest of the market and the IWM posted a +2.2% gain. The index has rallied back toward short-term resistance. While the trend is up it could see a little dip tomorrow (assuming the jobs report doesn't disappoint). I'd probably buy dips on the IWM near $81.50ish.

Small Positions - IWM Position -

Long the April $84 calls (IWM1116D84) Entry @ $1.92

-2nd position (entry 2/25)-

Long the April $82 calls (IWM1116D82) current ask @ $2.35

02/26 New stop loss @ 79.20
02/25 April $82 call opened at $2.35
02/24 Add another position (April $82 calls)
02/14 IWM opened @ 82.11. Option opened @ 1.92

UWM Entry on February 14th at $46.90
IWM Entry on February 14th at $82.11
Listed on February 12th, 2010


CBOE Market Volatility Index - VIX - close: 18.60 change: -2.10

Stop Loss: N/A
Target(s): 22.50, 28.00
Current Option Gain/Loss: -59.3%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/03 update: Strategy update! It looks like the bulls are back in control. The VIX is likely to languish between the 20 and 15 levels for the time being. I am suggesting we exit this trade tomorrow (Friday) at the closing bell to salvage any remaining capital. The VIX hit our first target a couple of weeks ago but odds are against seeing another huge spike higher. Or if you're more comfortable holding this as some sort of hedge against your bullish portfolio then keep it but don't forget these options expire around March 16th.

- Suggested Positions -

Long the 2011 March $22.50 calls (VIX1116C22.5) Entry @ $1.60

03/03 Plan to exit tomorrow at the closing bell
02/28 Consider an early exit now.
02/23 1st Target Hit @ 22.50, Option @ 2.35 (+46.8%)

Entry on January 26th at $17.00
Earnings Date --/--/--
Average Daily Volume =
Listed on January 25th, 2010


Waters Corp. - WAT - close: 84.65 change: +2.22

Stop Loss: 79.80
Target(s): 86.00, 89.90
Current Option Gain/Loss: +33.3%, and +28.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/03 update: The market's bullish tone on Thursday was enough to lift WAT past resistance to new highs. Shares outperformed with a +2.6% gain. Nimble traders may want to consider new positions on dips near the rising 10-dma. Our targets are $86.00 and $89.90.

FYI: The March calls will likely be very volatile.

- Suggested Positions -

Long the March $85 calls (WAT1119C85) Entry @ $0.90

- or -

Long the April $85 calls (WAT1116D85) Entry @ $1.75

Entry on February 28th at $82.61
Earnings Date 04/27/11 (unconfirmed)
Average Daily Volume = 876 thousand
Listed on February 26th, 2010


CLOSED BEARISH PLAYS

Freeport-McMoran - FCX - close: 52.40 change: +0.42

Stop Loss: 55.15
Target(s): 50.25, 47.00
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: see trigger

Comments:
03/03 update: I am dropping FCX as a put candidate. The stock is still underperforming the market and the current trend is bearish with a pattern of lower highs and lower lows. I just don't want to fight the market's trend. Our strategy could still work, buying puts on a bounce near the trendline of lower highs (resistance), but I would rather put our money in bullish candidates that offer more opportunity.

I recently adjusted our trigger to $53.50 but that has yet to be hit. The play was unopened.

03/03 Removed from the play list, unopened.
03/02 New trigger at $53.50
02/26 Update our trigger to buy puts at $54.00, stop 55.15

Entry on February xxth at $ xx.xx
Earnings Date 04/21/11 (unconfirmed)
Average Daily Volume = 14.4 million
Listed on February 19th, 2010