Editor's Note:

The stock market is on a mission to hit new highs. The S&P 500 index posted a 12-point gain and is less than two points away from a new all-time closing high.

Be careful here. Equity strength could be a reflection of end of quarter window dressing, which means stocks could see some "undressing" next week.

Our NBL trade was triggered today.


Current Portfolio:


CALL Play Updates

Axiall Corp. - AXLL - close: 61.52 change: -0.01

Stop Loss: 59.90
Target(s): 69.00
Current Option Gain/Loss: Apr62.5c: -48.4% & May65c: -38.1%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/26/13: Minus an eight-cent cash dividend, shares of AXLL only lost one cent today. Traders did buy the dip twice near $60.70 today. I would be tempted to buy calls on a rally past today's high (62.48).

- Suggested Positions -

Long Apr $62.50 call (AXLL1320D62.5) entry $3.20

- or -

Long May $65 call (AXLL1318E65) entry $2.75*

03/20/13 trade opened at trigger $63.15.
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on March 20 at $63.15
Average Daily Volume = 1.3 million
Listed on March 19, 2012


Continental Resources – CLR – close: 88.06 change: +1.08

Stop Loss: 84.65
Target(s): 93.50
Current Option Gain/Loss: - 3.3%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/26/13: Our new play in CLR is off to a decent start. Shares opened higher at $87.33 and rallied to a +1.0% gain. I don't see any changes from my comments on Monday night.

- Suggested Positions -

Long Apr $90 call (CLR1320D90) entry $1.50

Entry on March 26 at $---.--
Average Daily Volume = 1.2 million
Listed on March 25, 2012


Crane Co. - CR - close: 55.55 change: -0.06

Stop Loss: 54.40
Target(s): 58.50
Current Option Gain/Loss: -10.0%
Time Frame: 6 to 9 weeks
New Positions: see below

Comments:
03/26/13: Hmm... okay, now might be a good time to worry about CR. There was no follow through on yesterday's afternoon bounce. The stock underperformed the market today with a drift sideways. Readers might want to consider an early exit now. I am not suggesting new positions at this time.

Earlier Comments:
We do want to keep our position size small to limit our risk. If triggered our multi-week target is $58.50. More aggressive traders could certainly aim higher but CR doesn't move super fast.

- Suggested Positions - *Small Positions*

Long JUN $55 call (CR1322F55) entry $2.50

03/23/13 new stop loss @ 54.40
03/20/13 new stop loss @ 53.90
03/11/13 triggered at $55.25, plus we corrected the typo regarding the April versus June option. We are suggesting the June $55 call.

Entry on March 11 at $55.25
Average Daily Volume = 314 thousand
Listed on March 09, 2012


CommVault Sys. - CVLT - close: 82.00 change: +0.74

Stop Loss: 79.45
Target(s): 89.00
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Comments:
03/26/13: CVLT managed to outperform the S&P 500 today with a +0.9% gain but shares are still trading below resistance near $83.00. We are waiting for a move to our entry trigger at $83.25. If triggered our target is $89.00.

Trigger @ 83.25

- Suggested Positions -

buy the Apr $85 call (CVLT1320D85)

Entry on March -- at $---.--
Average Daily Volume = 627 thousand
Listed on March 20, 2012


Green Mtn Coffee Roasters - GMCR - close: 55.83 change: +0.21

Stop Loss: 53.45
Target(s): 59.75
Current Option Gain/Loss: -13.4%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/26/13: Traders bought the dip in GMCR near $54.75 for the fourth time in as many days. I would use this intraday bounce as a new bullish entry point or if you prefer a little bit more confirmation then wait for a rally past $56.00 as an alternative entry point.

Earlier Comments:
If this rally continues GMCR could see a short squeeze. The most recent data listed short interest at 37% of the 129 million-share float.

- Suggested Positions -

Long Apr 57.50 call (GMCR1320D57.5) entry $1.64

03/23/13 new stop loss @ 53.45

Entry on March 19 at $55.55
Average Daily Volume = 3.4 million
Listed on March 18, 2012


Genesee & Wyoming - GWR - close: 92.39 change: +0.43

Stop Loss: 89.90
Target(s): 98.50
Current Option Gain/Loss: -50.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/26/13: The rebound in GWR lagged behind the broader market on Tuesday. Traders did buy the dip again this morning. The longer-term trend is still up but I am cautious here.

Earlier Comments:
I would keep your position size small to limit our risk.

*Small Positions* - Suggested Positions -

Long Apr $95 call (GWR1320D95) Entry $1.40

03/25/13 new stop loss @ 90.70
03/19/13 new stop loss @ 89.90

Entry on March 11 at $92.35
Average Daily Volume = 407 thousand
Listed on March 09, 2012


Ingredion Inc. - INGR - close: 71.32 change: +0.44

Stop Loss: 68.45
Target(s): 74.75
Current Option Gain/Loss: -2.9%
Time Frame: 3 to 4 weeks
New Positions: , see below

Comments:
03/26/13: INGR posted a +0.6% gain to hit another new high. Shares will likely gap open lower tomorrow as the stock adjusts for INGR's 38-cent dividend. The stock is going ex-dividend a little bit earlier than previously expected. I don't see any changes from my prior comments. INGR posted a gain today but the option didn't move.

FYI: The Point & Figure chart for INGR is bullish with an $83 target.

- Suggested Positions -

Long Apr $70 call (INGR1320D70) entry $1.70

Entry on March 25 at $70.65
Average Daily Volume = 585 thousand
Listed on March 23, 2012


Kansas City Southern - KSU - close: 109.51 change: +2.80

Stop Loss: 105.75
Target(s): 114.00
Current Option Gain/Loss: + 8.0%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
03/26/13: KSU reversed sharply higher with a +2.6% gain. The stock hit a new all-time, historic high above $109.50 today. Shares look poised to breakout past what could be round-number resistance at $110 soon. I am not suggesting new positions at this time. Currently our stop loss is at $105.75.

Earlier Comments:
We want to keep our position size small to limit our risk since the transportation sector and KSU are arguably overbought at current levels.

- Suggested Positions -

Long Apr $110 call (KSU1320D110) entry $2.50

03/25/13 new stop loss @ 105.75
03/23/13 Our stop is at $104.75 but readers may want to use a stop around $105.75 instead.

Entry on March 14 at $107.50
Average Daily Volume = 984 thousand
Listed on March 13, 2012


McCormick & Co. - MKC - close: 72.41 change: +0.62

Stop Loss: 70.85
Target(s): 74.85
Current Option Gain/Loss: +11.1%
Time Frame: Prepare to exit PRIOR to earnings on April 2nd
New Positions: see below

Comments:
03/26/13: MKC hit another new all-time high, trading above $72.50 today. I want to remind you that we don't have much time left. The market is closed on Friday. I am suggesting that we prepare to exit this trade on Thursday at the closing bell. More aggressive traders could exit on April 1st. MKC is due to report earnings on April 2nd.

Earlier Comments:
I would keep our position size small to limit our risk.

*Small Positions* - Suggested Positions -

Long Jun $70 call (MKC1322F70) current ask $2.70

03/26/13 prepare to exit on Thursday, March 28th, at the closing bell
03/23/13 new stop loss @ 70.85
03/20/13 triggered on gap open higher at $71.40

Entry on March 20 at $71.40
Average Daily Volume = 750 thousand
Listed on March 19, 2012


Noble Energy - NBL - close: 115.60 change: +2.41

Stop Loss: 112.65
Target(s): 119.75
Current Option Gain/Loss: + 3.2%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/26/13: Our new NBL trade is open. The stock gapped open higher at $113.73 and rallied to a +2.1% gain. Our trigger to buy calls was hit at $115.35. I would still consider new bullish positions now at current levels.

- Suggested Positions -

Long May $120 call (NBL1318E120) entry $1.55

03/26/13 triggered @ 115.35
03/25/13 adjust entry trigger to $115.35, adjust stop to $112.65

Entry on March 26 at $115.35
Average Daily Volume = 1.0 million
Listed on March 23, 2012


Toyota Motors - TM - close: 103.60 change: +0.29

Stop Loss: 102.35
Target(s): 108.00
Current Option Gain/Loss: -40.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
03/26/13: The yen stalled its current oversold bounce today but the currency weakness really didn't help shares of TM much. The stock added +0.2%. I remain cautious here. I am not suggesting new positions and more conservative traders may want to exit early now.

Earlier Comments:
I do want to warn you that shares of TM tend to gap open (up or down) each day as the U.S. shares adjust for trading that occurs back home in Japan.

- Suggested Positions -

Long Apr $105 call (TM1320d105) entry $2.25

03/18/13 new stop loss @ 102.35, more conservative traders may want to exit early now
03/16/13 new stop loss @ 101.75

Entry on March 05 at $103.25
Average Daily Volume = 686 thousand
Listed on March 02, 2012


PUT Play Updates

F5 Networks - FFIV - close: 87.57 change: +0.09

Stop Loss: 90.55
Target(s): 85.25
Current Option Gain/Loss: + 8.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/26/13: FFIV spent Tuesday's session churning sideways. I don't see any changes from my prior comments. Nimble traders could look for a failed rally in the $89-90 zone as a new bearish entry point. Our target is $85.25 but more aggressive traders may want to aim for the $82.00-81.50 zone instead.

- Suggested Positions -

Long Apr $85 PUT (FFIV1320P85) entry $1.40

03/23/13 new stop loss @ 90.55

Entry on March 22 at $89.11
Average Daily Volume = 1.5 million
Listed on March 21, 2012


Joy Global, Inc. - JOY - close: 58.86 change: +1.05

Stop Loss: 60.25
Target(s): 52.50
Current Option Gain/Loss: -23.2%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/26/13: JOY managed to outperform the market with a +1.8% gain. This is probably just an oversold bounce but the close above its simple 200-dma is short-term bullish. At the moment, with the stock market poised to breakout higher, we could definitely see JOY bounce back toward resistance near $60.00 and its 10-dma. Readers might want to wait for a failed rally near $60 as our next potential entry point.

- Suggested Positions -

Long Apr 60 PUT (JOY1320P60) entry $3.05

Entry on March 25 at $57.50
Average Daily Volume = 2.7 million
Listed on March 20, 2012


Vitamin Shoppe, Inc. - VSI - close: 49.14 change: +0.06

Stop Loss: 51.55
Target(s): 45.50
Current Option Gain/Loss: + 0.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/26/13: VSI only gained six cents today. I would not call that participation in the market's rally on Tuesday. If the market does continue to rally we could see VSI bounce back toward short-term technical resistance at its simple 10-dma.

- Suggested Positions -

Long Apr $50 PUT (VSI1320P50) entry $2.00

Entry on March 21 at $49.75
Average Daily Volume = 736 thousand
Listed on March 11, 2012