Editor's Note:

Whole Foods Market, Inc. continues to perform well and tagged another new high. It wasn't a great day for APC.

Current Portfolio:


CALL Play Updates

Anadarko Petroleum - APC - close: 64.21 change: -1.59

Stop Loss: 63.40
Target(s): 69.75
Current Option Gain/Loss: -36.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/20/12 update: It was not a good day for some of the oil stocks. Crude oil prices hit a new 2012 low today. Shares of APC erased about two days of gains with today's -2.4% pull back. The stock stalled near $64 and its 10-dma and 30-dma, both acting as short-term support.

If there is any follow through lower tomorrow APC will likely hit our stop loss at $63.40. Readers may want to wait for a new rally past $65.00 or even $66.00 before initiating new call positions.

- 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: 80.89 change: -0.08

Stop Loss: 77.75
Target(s): 86.50
Current Option Gain/Loss: -33.8%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/20/12 update: CTXS held up reasonably well today. Traders bought the dip to $80.00 this morning. CTXS closed almost unchanged on the session. Unfortunately things don't look so great after hours.

One of CTXS' competitors, Red Hat (RHT), reported earnings after the closing bell tonight. RHT offered some disappointing guidance and the stock is down more than -10% after hours. This is weighing on shares of CTXS, which are down around $79 after hours tonight.

I would expect a weak opening tomorrow.

- 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


Snap-on Inc. - SNA - close: 63.36 change: -0.88

Stop Loss: 61.95
Target(s): 69.00
Current Option Gain/Loss: Unopened
Time Frame: 6 to 9 weeks
New Positions: see below

Comments:
06/20/12 update: SNA tried to rally this morning but immediately reversed as it neared the $64.50 level. The stock retreated to its rising 10-dma before paring its losses. Aggressive traders could buy this dip to the 10-dma. I am suggesting we stick to our original plan and wait for SNA to hit our trigger at $64.55 as our entry point.

FYI: The Point & Figure chart for SNA is bullish with a long-term $79 target.

Trigger @ 64.55

- Suggested Positions -

buy the Jul $65 call (SNA1221G65)

- or -

Buy the Sep $65 call (SNA1222I65)

Entry on June xx at $ xx.xx
Earnings Date 07/19/12 (unconfirmed)
Average Daily Volume = 424 thousand
Listed on June 19, 2012


Whole Foods Market, Inc. - WFM - close: 96.14 change: +0.46

Stop Loss: 93.25
Target(s): 95.00 & 98.50
Current Option Gain/Loss: Jul $92.50c: +45.4% & Aug $95c: +19.3%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/20/12 update: Positive analyst comments helped WFM recover from its morning lows. Shares set another new closing high. More conservative traders may want to take profits early on the July calls. 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.