Editor's Note:

The U.S. stock market is quickly recovering last week's losses. Some are calling it the Putin rally as stocks continue to rebound following the Crimea vote on Sunday. Russian President Putin said he has no plans to annex Eastern Ukraine and Wall Street seems to believe him.

RTN hit our entry trigger. We have adjusted several exit targets tonight.


Current Portfolio:


CALL Play Updates

Chicago Bridge & Iron - CBI - close: 86.79 change: +4.01

Stop Loss: 80.90
Target(s): 94.75
Current Option Gain/Loss: +17.8%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/18/14: Bullish analyst comments and news of a big new contract win helped send CBI higher. Shares rallied +4.8% on above average volume.

We are turning more optimistic on this trade and raising the exit target from $89.50 to $94.75.

Earlier Comments:
Our target is $89.50. More aggressive investors could aim higher since the Point & Figure chart for CBI is bullish with a $111 target.

- Suggested Positions -

Long Apr $85 call (CBI1419D85) entry $2.80

03/18/14 adjust exit target from $89.50 to $94.75
03/04/14 triggered @ 84.50

Entry on March 04 at $84.50
Average Daily Volume = 1.16 million
Listed on March 01, 2014


Centene Corp. - CNC - close: 64.48 change: +0.73

Stop Loss: 61.75
Target(s): 67.75
Current Option Gain/Loss: -72.0%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/18/14: We are quickly running out of time. CNC added +1.1% today but shares remain stuck under resistance at the $65.00 level. We only have three trading days left on our March options.

- Suggested Positions -

Long Mar $65 call (CNC1422C65) entry $1.25

03/01/14 new stop loss @ 61.75
02/24/14 triggered @ 63.60

Entry on February 25 at $63.60
Average Daily Volume = 656 thousand
Listed on February 24, 2014


Greenbrier Companies - GBX - close: 47.20 change: +0.39

Stop Loss: 44.30
Target(s): April call target: $49.85, June call target: $54.75
Current Option Gain/Loss: Apr$50c: + 5.5% & Jun$50c: +10.0%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/18/14: GBX managed another gain and set a new closing high today. We are adjusting our exit target for our June calls from $53.50 to $54.75. Our exit target for the April calls remains $49.85.

- Suggested Positions -

Long Apr $50 call (GBX1419D50) entry $0.90

- or -

Long Jun $50 call (GBX1421F50) entry $2.00

03/18/14 adjust exit target for June calls from $53.50 to $54.75
03/13/14 opened at $46.25

Entry on March 13 at $46.25
Average Daily Volume = 608 thousand
Listed on March 12, 2014


Russell 2000 ETF - IWM - close: 119.78 change: +1.72

Stop Loss: 115.25
Target(s): TBD
Current Option Gain/Loss: +18.8%
Time Frame: exit prior to May expiration
New Positions: see below

Comments:
03/18/14: The relative strength in the small caps continues. The IWM added +1.45% and looks poised to breakout past the $120.00 mark tomorrow.

- Suggested Positions -

Long May $120 call (IWM1417E120) entry $2.50*

03/17/14 triggered @ 118.25
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on March 17 at $118.25
Average Daily Volume = 43 million
Listed on March 15, 2014


Lockheed Martin - LMT - close: 163.98 change: -0.09

Stop Loss: 159.90
Target(s): 169.75 & 174.75
Current Option Gain/Loss: -32.1%
Time Frame: exit prior to April option expiration
New Positions: see below

Comments:
03/18/14: LMT announced they had purchased BEONTRA AG, a small German commercial airport services firm. Terms of the deal were not disclosed. The announcement really didn't move the needle much for LMT. Shares underperformed the market with a sideways move. I am not suggesting new positions at this time.

We have two different targets. Our conservative target is $169.75. Our more aggressive target is $174.75. FYI: The Point & Figure chart for LMT is very bullish with a $221 target.

- Suggested Positions -

Long Apr $165 call (LMT1419D165) entry $4.20

03/04/14 triggered @ 164.35

Entry on March 04 at $164.35
Average Daily Volume = 2.3 million
Listed on March 03, 2014


Raytheon Co. - RTN - close: 101.31 change: +0.35

Stop Loss: 98.40
Target(s): to be determined
Current Option Gain/Loss: - 5.6%
Time Frame: 4 to 5 weeks
New Positions: see below

Comments:
03/18/14: Our brand new play on RTN has been triggered. The plan was to buy calls at $101.25 but RTN gapped open higher at $101.34 this morning. After some churning sideways RTN closed near its morning levels. I would still consider new positions now but more conservative traders may want to wait for a bullish breakout past potential resistance near the $102.00 level.

- Suggested Positions -

Long APR $100 call (RTN1419D100) entry $2.83

03/18/14 triggered on gap open higher at $101.34, suggested entry point was $101.25

Entry on March 18 at $101.34
Average Daily Volume = 1.9 million
Listed on March 17, 2014


Spirit Airlines - SAVE - close: 63.05 change: +2.17

Stop Loss: 58.45
Target(s): 67.50
Current Option Gain/Loss: +28.1%
Time Frame: 4 to 5 weeks
New Positions: see below

Comments:
03/18/14: Shares of SAVE were flying high today with a +3.5% gain to close at new record highs. I am raising our stop loss to $58.45. We're also adjusting our exit target from $65.00 to $67.50.

- Suggested Positions -

Long Apr $60 call (SAVE1419D60) entry $3.20

03/18/14 new stop @ 58.45, adjust exit target from $65.00 to $67.50
03/11/14 triggered @ 60.50

Entry on March 11 at $60.50
Average Daily Volume = 1.0 million
Listed on March 10, 2014


Constellation Brands Inc. - STZ - close: 82.77 change: +0.91

Stop Loss: 81.45
Target(s): March calls: exit tomorrow (03/19/14)
Target(s): Target for April calls @ $88.00
Current Option Gain/Loss: Mar$80c:+ 14.7% & Apr$80c: +27.2%
Time Frame: 6 to 8 weeks
New Positions: see below

Comments:
03/18/14: We only have three days left on our March calls. I am suggesting we exit our STZ March $80 calls tomorrow (Wednesday) at the closing bell. I am not suggesting new positions at this time.

Our target to exit the April $80 calls is STZ at $88.00.

- Suggested Positions -

Buy the MAR $80 call (STZ1422C80) entry $1.70

- or -

Buy the APR $80 call (STZ1419D80) entry $3.30

03/18/14 prepare to exit March calls tomorrow at the closing bell
03/08/14 new stop loss @ 81.45
move the target to exit the March calls to $84.50
move the target to exit the April calls to $88.00
03/01/14 new stop loss @ 79.65
02/25/14 new stop loss @ 78.75
02/22/14 new stop loss @ 77.80
02/18/14 new stop loss @ 77.40
02/13/14 new stop loss @ 76.40
02/12/14 triggered @ 79.00

Entry on February 12 at $79.00
Average Daily Volume = 1.5 million
Listed on February 11, 2014


Varian Medical Systems - VAR - close: 84.96 change: +0.32

Stop Loss: 83.40
Target(s): 89.75
Current Option Gain/Loss: -25.4%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/18/14: VAR is still trying to breakout past resistance near the $85.00 level. After coiling under this resistance for so many days the breakout higher could spark a big move. Today's high was $85.17. I would be tempted to buy calls above $85.25 or you could look for a move above the March 11th high of $85.50.

The Point & Figure chart for VAR is bullish with a $91 target.

- Suggested Positions -

Long Apr $85 call (VAR1419D85) entry $2.08

03/11/14 triggered @ 85.05

Entry on March 11 at $85.05
Average Daily Volume = 573 thousand
Listed on March 08, 2014


VMware, Inc. - VMW - close: 110.22 change: +0.48

Stop Loss: 104.45
Target(s): 114.75
Current Option Gain/Loss: +102.8%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/18/14: Tuesday ended up a quiet day for shares of VMW with shares drifting sideways along the $110.00 level. The stock was trading down after hours, likely as reaction to somewhat disappointing earnings news from Oracle (ORCL).

If VMW does see some profit taking I would look for support near $107.00-107.50. We will adjust our stop loss to $104.45 tonight. We are also moving our exit target from $114.00 to $114.75. The $115.00 level has been heavy resistance in the past.

I am not suggesting new positions at this time.

- Suggested Positions -

Long Apr $105 call (VMW1419D105) entry $3.50

03/18/14 new stop @ 104.45, adjust exit target from $114.00 to $114.75
03/17/14 new stop @ 103.80, traders may want to take profits now
03/11/14 triggered on gap higher at $104.08, suggested entry was $103.55

Entry on March 11 at $104.08
Average Daily Volume = 2.0 million
Listed on March 10, 2014


Workday, Inc. - WDAY - close: 104.25 change: +2.68

Stop Loss: 98.70
Target(s): 114.00
Current Option Gain/Loss: - 6.9%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/18/14: WDAY displayed relative strength with a +2.6% gain. Today's move is also a bullish move above its 10-dma and 20-dma. Yet shares remain below short-term resistance at the $105.00 mark.

We are adjusting our exit target to $114.00. The $110 level could be short-term resistance so more conservative traders may want to exit near there.

Earlier Comments:
The stock could move quickly. The most recent data listed short interest at 20% of the 80.2 million share float.

- Suggested Positions -

Long Apr $105 call (WDAY1419D105) entry $4.30

03/18/14 adjust target to $114.00
03/13/14 triggered on gap higher at $103.82. plan was a trigger @ 103.25

Entry on March 13 at $103.82
Average Daily Volume = 1.9 million
Listed on March 12, 2014




PUT Play Updates

Akamai Tech. - AKAM - close: 60.61 change: +0.81

Stop Loss: 61.05
Target(s): 55.10
Current Option Gain/Loss: -47.1%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
03/18/14: AKAM is not cooperating. Shares closed back above the $60.00 level and a breakout past $61.00 could signal a bounce toward its highs near $63.00. I am suggesting an immediate exit tomorrow morning.

- Suggested Positions -

Long Apr $57.50 put (AKAM1419P57.5) entry $1.42

03/18/14 exit immediately tomorrow morning
03/17/14 new stop @ 61.05
03/11/14 triggered @ 58.95

Entry on March 11 at $58.95
Average Daily Volume = 3.0 million
Listed on March 10, 2014


Charter Communications - CHTR - close: 125.99 change: -0.50

Stop Loss: 127.05
Target(s): 1st target: 120.50, 2nd target: $116.00
Current Option Gain/Loss: Unopened
Time Frame: 4 to 5 weeks
New Positions: Yes, see below

Comments:
03/18/14: CHTR underperformed the market today but losses were minor. Shares are still above support near $125.00.

I am suggesting a trigger to open bearish positions at $124.60. If triggered I am setting two different targets. Our conservative target is $120.50, the February low. Our more aggressive target is $116.00. FYI: The Point & Figure chart for CHTR is bearish with a $110 target.

Trigger @ 124.60

- Suggested Positions -

Buy the APR $120 PUT (CHTR1419P120)

Entry on March -- at $---.--
Average Daily Volume = 2.5 million
Listed on March 13, 2014


State Street Corp. - STT - close: 65.34 change: -0.10

Stop Loss: 65.25
Target(s): 60.25
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Comments:
03/18/14: STT also underperformed the market today but its loss was pretty small. We are waiting on a breakdown to new relative lows.

Earlier Comments:
I am suggesting a trigger to buy puts at $63.90. If triggered our short-term target is $60.25. More aggressive traders could aim lower. The Point & Figure chart for STT is bearish with a $53 target.

Trigger @ 63.90

- Suggested Positions -

Buy the Apr $65 PUT (STT1419P65)

Entry on March -- at $---.--
Average Daily Volume = 2.9 million
Listed on March 15, 2014


Twitter, Inc. - TWTR - close: 51.13 change: -0.92

Stop Loss: 56.15
Target(s): 41.85
Current Option Gain/Loss: +16.6%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
03/18/14: TWTR continues to perform poorly for investors. Shares dipped toward round-number support near $50.00 before paring its losses. I would expect a short-term bounce from $50.00 but TWTR should find resistance in the $53-55 zone.

If you are looking for an entry point a breakdown below $50.00 could be used as a new entry point. We are adjusting our exit target on this play from $46.50 to $41.85.

Earlier Comments:
TWTR currently has 544.7 million shares outstanding. There is a major lock up expiring on May 6th when another 474 million shares will come available for sale by insiders. It seems unlikely that TWTR is going to rally ahead of such a massive lock up expiration.

TWTR can be a volatile stock. Therefore we are suggesting small positions to limit risk.

- Suggested Positions -

Long Apr $50 PUT (TWTR1419P50) entry $1.80

03/18/14 adjust the exit target from $46.50 to $41.85
03/15/14 adjust exit target from $50.25 to $46.50
03/12/14 trade opens at $54.25

Entry on March 12 at $54.25
Average Daily Volume = 11.4 million
Listed on March 11, 2014