Editor's Note:

The bulls had control of the markets today with stocks off to a strong start.

We had a lot of activity on our play list today. APC and CTXS were triggered. CERN was closed as a winner. ROST hit our target. Yet MNST was stopped out as well as all of our put plays were stopped out.

Current Portfolio:


CALL Play Updates

Anadarko Petroleum - APC - close: 65.80 change: +1.17

Stop Loss: 63.40
Target(s): 69.75
Current Option Gain/Loss: - 1.1%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/19/12 update: Once again the energy sector performance was mixed with oil service stocks underperforming today. APC rallied +1.8% and is now testing its 40-dma. Today's move did hit our trigger to buy calls at $65.55 pretty early this morning.

- Suggested Positions -

Long Jul $67.50 call (APC1221G67.5) Entry $1.75*

*option entry price is an estimate. looks like there was a bad tick at $5.00 this morning (06/19/12)
06/19/12 triggered @ 65.55

Entry on June 19 at $65.55
Earnings Date 07/23/12 (unconfirmed)
Average Daily Volume = 5.2 million
Listed on June 16, 2012


Citrix Systems - CTXS - close: 80.97 change: +0.52

Stop Loss: 77.75
Target(s): 86.50
Current Option Gain/Loss: -25.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/19/12 update: Our new trade on CTXS is open. Unfortunately shares gapped open higher at $81.40, well above our trigger to buy calls at $80.75. The trade is open. Readers may want to wait for a new dip near $80.00 before initiating new positions.

- Suggested Positions -

Long Jul $82.50 call (CTXS1221G82.5) Entry $3.40

06/19/12 trade opened on gap higher at $81.40

Entry on June 19 at $81.40
Earnings Date 07/25/12 (unconfirmed)
Average Daily Volume = 2.0 million
Listed on June 18, 2012


Whole Foods Market, Inc. - WFM - close: 95.68 change: +0.54

Stop Loss: 93.25
Target(s): 95.00 & 98.50
Current Option Gain/Loss: Jul $92.50c: +36.3% & Aug $95c: +14.7%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/19/12 update: WFM inched to another new high. WFM looks short-term overbought and could see a dip back toward its 10-dma, which would stop us out. I am not suggesting new positions at this time.

- Suggested Positions -

Long Jul $92.50 call (WFM1221G92.5) Entry $3.30

- or -

Long Aug $95 call (WFM1218H95) Entry $4.40

06/18/12 new stop loss @ 93.25
06/15/12 first target hit at $95.00, options values at:
Jul $92.50 call @ $4.50 (+36.3%)
Aug $95.00 call @ $5.05 (+14.7%)
06/15/12 triggered at $92.05

Entry on June 15 at $92.05
Earnings Date 07/25/12 (unconfirmed)
Average Daily Volume = 1.8 million
Listed on June 12, 2012


PUT Play Updates

Currently we do not have any active put trades.


CLOSED BULLISH PLAYS

Cerner Corp. - CERN - close: 86.91 change: +0.95

Stop Loss: 79.45
Target(s): 84.85 & 87.50
Current Option Gain/Loss: +200.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/19/12 update: Last night we decided to close our CERN position early at the opening bell this morning. Shares gapped open higher at $86.78 before spiking to $88.32 and then paring its gains.

I would keep CERN on your watch list. We might play it again on a dip.

- Suggested Positions -

Jul $85 call (CERN1221G85) Entry $1.20 final exit $3.60 (+200%)

06/19/12 planned exit at the open
06/18/12 prepare to exit remaining positions at the open tomorrow
06/18/12 first target hit at $84.85, option @ $2.70 (+125.0%)

chart:

Entry on June 15 at $81.75
Earnings Date 07/26/12 (unconfirmed)
Average Daily Volume = 1.25 million
Listed on June 14, 2012


Monster Beverage - MNST - close: 76.15 change: -2.57

Stop Loss: 77.45
Target(s): 79.50
Current Option Gain/Loss: + 20.5%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/19/12 update: It was a disappointing session for MNST. The stock was downgraded this morning and shares fell -3.2% on the news. The stock dipped to short-term support at the simple 10-dma. The overall trend is still bullish but we had just raised our stop loss to $77.45 yesterday.

- Suggested Positions -

Jul $80 call (MNST1221G80) Entry $1.70, exit $2.05 (+20.5%)

06/19/12 stopped out at $77.45
06/18/12 new stop loss @ 77.45
06/09/12 new stop loss @ 73.25
06/06/12 new stop loss @ 70.75
06/06/12 triggered at $74.25

chart:

Entry on June 06 at $74.25
Earnings Date 08/02/12 (unconfirmed)
Average Daily Volume = 1.9 million
Listed on June 04, 2012


Ross Stores Inc. - ROST - close: 67.91 change: -0.29

Stop Loss: 65.45
Target(s): 69.00
Current Option Gain/Loss: +96.7%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
06/19/12 update: Today's move in ROST looks like a short-term top. Shares hit new highs and then reversed. Yesterday we adjusted our exit target to $69.00, which ROST hit today.

- Suggested Positions -

Jul $65 call (ROST1221G65) Entry $2.10 exit $4.15 (+97.6%)

06/19/12 target hit at $69.00
06/18/12 new stop loss @ 65.45, adjust exit target to $69.00
06/12/12 new stop loss @ 63.45
06/07/12 triggered on gap higher at $64.47

chart:

Entry on June 07 at $64.47
Earnings Date 08/16/12 (unconfirmed)
Average Daily Volume = 2.3 million
Listed on June 06, 2012


CLOSED BEARISH PLAYS

Anixter Intl. - AXE - close: 55.31 change: +1.41

Stop Loss: 55.15
Target(s): 48.50
Current Option Gain/Loss: -71.9%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/19/12 update: The oversold bounce in AXE is picking up speed. I cautioned readers yesterday that AXE had created a bullish reversal candlestick. Today the stock gapped open higher and surged to a +2.6% gain. Our stop loss was hit at $55.15.

Earlier Comments:
We want to keep our position size small because AXE has above average short interest. The most recent data listed short interest at 15% of the small 27.6 million share float.

*Small positions* - Suggested Positions -

Jul $50 PUT (AXE1221S50) Entry $1.07 exit $0.30 (-71.9%)

06/19/12 stopped out at $55.15
06/18/12 new stop loss @ 55.15

chart:

Entry on June 14 at $53.35
Earnings Date 07/24/12 (unconfirmed)
Average Daily Volume = 339 thousand
Listed on June 13, 2012


Baxter Intl. - BAX - close: 51.54 change: +1.62

Stop Loss: 50.65
Target(s): 48.00
Current Option Gain/Loss: (Jun$50p: +40.9%) & Jul50p: -58.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/19/12 update: Ouch! It was a big day for BAX with shares gaining +3.2%. This rally was sparked by news this morning that Goldman Sachs had added BAX to their conviction "buy" list. The stock gapped open higher at $50.89, which was above our stop loss at $50.65.

- Suggested Positions -

(exit on Thursday, June 14th @ the close)
Jun $50 PUT (BAX1216R50) Entry $0.66 exit $0.93 (+40.9%)

- or -

Jul $50 PUT (BAX1221S50) Entry $1.55 exit $0.65 (-58.0%)

06/19/12 stopped out at $50.89, gap open this morning
06/18/12 new stop loss @ 50.65
06/14/12 planned exit for Jun $50 puts at the close (+40.9%)
06/13/12 prepare to exit our June $50 puts at the close on Thursday
06/02/12 new stop loss @ 51.51
05/31/12 triggered at $50.95

chart:

Entry on May 31 at $50.95
Earnings Date 07/19/12 (unconfirmed)
Average Daily Volume = 2.4 million
Listed on May 29, 2012


NASDAQ OMX Group - NDAQ - close: 22.15 change: +0.47

Stop Loss: 21.85
Target(s): 20.15
Current Option Gain/Loss: -70.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/19/12 update: The market's widespread gains today also fueled a bullish breakout in NDAQ. Shares rallied +2.1% and broke through resistance at the top of its bearish channel. Our stop was hit early this morning at $21.85.

(SMALL Positions) - Suggested Positions -

July $21 PUT (NDAQ1221S21) Entry $0.85 exit $0.25 (-70.5%)

06/19/12 stopped out at $21.85
06/18/12 new stop loss @ 21.85

chart:

Entry on June 06 at $21.95
Earnings Date 07/25/12 (unconfirmed)
Average Daily Volume = 3.8 million
Listed on June 05, 2012


Netflix, Inc. - NFLX - close: 69.83 change: +3.10

Stop Loss: 67.25
Target(s): 60.25
Current Option Gain/Loss: -62.1%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/19/12 update: The short covering in NFLX continues. The stock opened at $66.90 and surged to a +4.6% gain. The stock is now testing round-number resistance at the $70.00 mark. Our stop loss was hit early this morning at $67.25.

Earlier Comments:
I am suggesting we keep our position size small because NFLX can be volatile at times and being short the stock is a popular position with short interest at 20% of the 54 million share float.

(Small positions) - Suggested Positions -

Jul $60 PUT (NFLX1221S60) Entry $3.57 exit $1.35 (-62.1%)

06/19/12 stopped out at $67.25

chart:

Entry on June 08 at $64.37
Earnings Date 07/23/12 (unconfirmed)
Average Daily Volume = 4.9 million
Listed on June 07, 2012