Editor's Note:

The last week of the quarter ended on a down note with widespread losses.

We have removed CAM. GMCR has new entry triggers. IWM hit our bearish target.


Current Portfolio:


CALL Play Updates

Automatic Data Processing - ADP - close: 68.38 change: -0.30

Stop Loss: 67.00
Target(s): 74.00
Current Option Gain/Loss: -33.3%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
06/24/13: Monday was a relatively quiet session for ADP. The stock is still drifting sideways inside the $68-69 zone. More conservative traders might want to raise their stop loss closer to the $68.00 level. I am not suggesting new positions at this time.

- Suggested Positions -

Long Aug $70 call (ADP1317H70) entry $1.65

Entry on June 18 at $69.25
Average Daily Volume = 1.8 million
Listed on June 17, 2013


CME Group Inc. - CME - close: 76.06 change: -0.73

Stop Loss: 73.85
Target(s): 84.00
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Comments:
06/24/13: CME saw some weakness this morning but shares actually spent most of the day churning sideways in a relatively narrow range. Nimble traders could try buying calls on a dip or a bounce near $75.00. The newsletter is suggesting traders use an entry trigger at $77.85 instead.

Earlier Comments:
Bears can argue that CME shares are overbought and due for a correction. Bulls can argue that the CME managed to shrug off the market's sell-off this past week and continues to show relative strength. Tonight we're going with the trend, which is up.

I am suggesting small bullish positions if CME can trade at $77.85. If triggered we'll use a stop loss at $73.85. More cautious traders may want to use a stop closer to $75.00, which looks like short-term support. I do expect some resistance at $80.00 but our target is $84.00.

Trigger @ 77.85 *small positions*

- Suggested Positions -

Buy the Jul $80 call (CME1320G80)

Entry on June -- at $---.--
Average Daily Volume = 3.0 million
Listed on June 22, 2013


Green Mtn Coffee Roasters - GMCR - close: 73.33 change: -1.09

Stop Loss: 67.75
Target(s): 95.00
Current Option Gain/Loss: Unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Comments:
06/24/13: The correction in GMCR continues with a -1.4% decline today. Yet the correction might be slowing. GMCR has found technical support near its rising 40-dma for months. Guess where it bounced today? Yes, near its 40-dma. Thus we're adjusting our entry strategy.

We'd like to see some follow through on this intraday bounce so we're adjusting the entry trigger down to $76.00. However, just in case GMCR doesn't bounce we will also add an alternative entry trigger at $70.50 since the $70.00 level and the 50-dma should also provide additional support. We'll move the stop loss down to $67.75.

Please note that I have adjusted our option strikes as well.

Earlier Comments:
GMCR can be a volatile stock so we do want to keep our position size small to limit risk. GMCR could see a short squeeze. The most recent data listed short interest at 33% of the 129 million share float.

If triggered our multi-week target is $95.00. FYI: The Point & Figure chart for GMCR is bullish with a $105 target.

Trigger #1 buy calls @ $76.00 *Small Positions*

Trigger #2 buy calls @ $70.50 *small positions*

- Suggested Positions -

Buy the Jul $80 call (GMCR1320G80)

- or -

Buy the Aug $85 call (GMCR1317H85)

06/24/13 Strategy Update: Move the trigger to buy calls down to $76.00. Also add a second buy-the-dip trigger at $70.50. Adjust the stop loss down to $67.75. Adjust the options to July $80 or August $85 calls

Entry on June -- at $---.--
Average Daily Volume = 3.3 million
Listed on June 19, 2013


Starbucks Corp. - SBUX - close: 64.01 change: -0.68

Stop Loss: 61.85
Target(s): 69.50
Current Option Gain/Loss: Jul$65c: -19.2% & Aug65c: -11.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
06/24/13: The morning market weakness pushed SBUX down to $63.18. The stock managed to pare its losses to close down just -1.0%. Today's high was $64.58. I would be tempted to launch positions on a new rally past $64.75 or above $65.00.

- Suggested Positions -

Long Jul $65 call (SBUX1320G65) entry $1.35

- or -

Long Aug $65 call (SBUX1317H65) entry $2.30

06/21/13 triggered at $64.25.

Entry on June 21 at $64.25
Average Daily Volume = 4.6 million
Listed on June 20, 2013


SodaStream Intl. - SODA - close: 67.17 change: -3.84

Stop Loss: 68.65
Target(s): 79.00
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Comments:
06/24/13: SODA hit some significant profit taking today with a -5.4% decline. Shares settled on their 30-dma. If this weakness continues tomorrow we might drop it as a bullish candidate. Currently I am suggesting a trigger to buy calls at $72.50. Friday's high was $72.35. If we are triggered at $72.50 our target is $79.00. The stock struggled with resistance at $80.00 back in 2011 so the $80 level could still be trouble. SODA can be a volatile stock so traders may want to limit their position size to reduce risk.

Trigger @ 72.50

- Suggested Positions -

Buy the Jul $75 call (SODA1320G75)

Entry on June -- at $---.--
Average Daily Volume = 1.5 million
Listed on June 22, 2013


S&P500 SPDR ETF - SPY - close: 157.06 change: -2.01

Stop Loss: 154.90
Target(s): 168.00
Current Option Gain/Loss: -22.5%
Time Frame: 6 to 9 weeks
New Positions: see below

Comments:
06/24/13: It was not a good day for the bulls. The SPY actually gapped down below its 100-dma. Shares tried to rally but saw the rebound rollover. We might see the SPY retest $155 or $154 before rebounding again. Nimble traders can watch these levels and wait for a bounce as an alternative entry point.

- Suggested Positions -

Long Aug $162 call (SPY1317H162) entry $2.40

06/22/13 adjust stop loss to $152.90
06/21/13 triggered on dip at $158.00

Entry on June 21 at $158.00
Average Daily Volume = 162 million
Listed on June 20, 2013


PUT Play Updates

Agrium Inc. - AGU - close: 84.42 change: -1.59

Stop Loss: 87.60
Target(s): 81.00
Current Option Gain/Loss: +124.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
06/24/13: AGU spiked down to new lows for the year this morning. Shares did pare their losses but AGU posted a -1.8% decline on the session. I am not suggesting new positions at this time.

Earlier Comments:
I am suggesting we limit our position size and keep positions small to limit our risk.

FYI: AGU will begin trading ex-dividend on June 26th. The quarterly cash dividend should be 50 cents.

*Small Positions* - Suggested Positions -

Long Jul $85 PUT (AGU1320s85) entry $1.25

06/22/13 new stop loss @ 87.60
06/20/13 triggered on gap down at $87.71, trigger was $87.80
06/19/13 keep position size small.

Entry on June -- at $---.--
Average Daily Volume = 744 thousand
Listed on June 15, 2013


eBay Inc. - EBAY - close: 50.82 change: -0.31

Stop Loss: 52.05
Target(s): 45.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Comments:
06/24/13: EBAY remains resilient with another bounce near support at $50.00.

Currently we are suggesting investors wait for a breakdown below $50.00 and use an entry trigger at $49.85.

FYI: The Point & Figure chart for EBAY is bearish with a $44 target.

Trigger @ 49.85

- Suggested Positions -

Buy the Aug $50 PUT (EBAY1317T50)

06/22/13 adjust option strike from July $50 put to Aug. $50 put

Entry on June -- at $---.--
Average Daily Volume = 10.7 million
Listed on June 12, 2013



Longer-Term Play Updates



Chicago Bridge & Iron - CBI - close: 58.09 change: -1.04

Stop Loss: 53.75
Target(s): 74.50
Current Option Gain/Loss: +21.5%
Time Frame: 4 to 6 months
New Positions: see below

Comments:
06/24/13: CBI was no exception to the market weakness today. Shares gapped lower at $58.24 and spiked down to $56.04 this morning. This move broke down below both its 50-dma and its 100-dma. CBI managed to bounce back and close right above its 50-dma but it still lost -1.75% for the session.

Our buy-the-dip trigger was hit at $56.75.

Earlier Comments:
Last time we added CBI we successfully caught the bounce from mid April back toward its March highs. You can read the background details and bullish fundamentals for CBI in our original play description here, since it still applies. Just scroll down to the "longer-term trades" section of the page.

*Small Positions* - Suggested Positions -

Long 2014 Jan $65 call (CBI1418A65) entry $2.55

06/24/13 triggered @ 56.75
06/22/13 adjust entry trigger to $56.75
06/15/13 entry strategy change: change the breakout trigger at $65.25 to a buy-the-dip trigger at $56.50. Adjust the stop loss to $53.75.
Adjust the option strike to the 2014 Jan. $65 call

Entry on June -- at $---.--
Average Daily Volume = 1.8 million
Listed on June 01, 2013


CLOSED BULLISH PLAYS

Cameron Intl. Corp. - CAM - close: 60.98 change: -0.55

Stop Loss: 59.75
Target(s): 69.75
Current Option Gain/Loss: Unopened
Time Frame: 3 to 5 weeks
New Positions: Yes, see below

Comments:
06/24/13: Shares of CAM gapped lower this morning and dipped to technical support at its simple 200-dma and exponential 200-dma before bouncing. More aggressive traders might want to consider buying this bounce with a stop just under today's low. We are more concerned with CAM's new lower low and the weakness in oil.

Our trade hasn't opened yet so we're removing CAM from the newsletter.

Trade did not open.

06/24/13 removed from the newsletter
06/22/13 strategy adjustment: move the entry trigger from $65.60 down to $63.25. move the stop loss from $63.75 to $59.75.
Keep position size small.

chart:

Entry on June -- at $---.--
Average Daily Volume = 1.6 million
Listed on June 19, 2013


CLOSED BEARISH PLAYS

iShares Russell 2000 - IWM - close: 94.71 change: -1.27

Stop Loss: 97.50
Target(s): 94.20
Current Option Gain/Loss: +52.7%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
06/24/13: Target achieved.

The stock market's widespread weakness on Monday was strong enough to push the IWM to an intraday low of $93.83. Our exit target was hit at $94.20.

*Small Positions* - Suggested Positions -

Jul $95 PUT (IWM1320S95) entry $1.80 exit $2.75 (+52.7%)

06/24/13 target hit
06/22/13 adjust exit target to $94.20
06/20/13 new stop loss @ 97.50, adjust exit target to $94.10
06/13/13 conservative traders may want to exit ASAP. The IWM has produced what appears to be a bullish reversal pattern but it needs confirmation.

chart:

Entry on June 11 at $97.45
Average Daily Volume = 43 million
Listed on June 08, 2013