Editor's Note:

The market continued to sink on Monday thanks to another round of disappointing economic data out of China over the weekend.

SAVE hit our stop loss. AEGR hit our entry trigger.


Current Portfolio:


CALL Play Updates

ASML Holdings - ASML - close: 91.11 change: -1.28

Stop Loss: 89.75
Target(s): 99.50
Current Option Gain/Loss: -39.4%
Time Frame: exit prior to earnings on April 16th
New Positions: see below

Comments:
03/24/14: ASML underperformed the broader market on Monday with a -1.38% decline. The stock did find support midday in the $90.75 area. Given the afternoon bounce off its lows I would be tempted to buy calls on a new rise past $91.75.

FYI: The Point & Figure chart for ASML is bullish with a $104 target.

- Suggested Positions -

Long Apr $95 call (ASML1419D95) entry $1.90*

03/19/14 triggered @ 92.25
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on March 19 at $92.25
Average Daily Volume = 1.6 million
Listed on March 18, 2014


Chicago Bridge & Iron - CBI - close: 85.35 change: -1.52

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:
03/24/14: CBI retreated from all-time highs and fell to its simple 10-dma around lunchtime before starting to pare its losses. More conservative traders may want to raise their stop loss.

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


FleetCor Technologies - FLT - close: 117.59 change: -2.88

Stop Loss: 117.75
Target(s): 129.50
Current Option Gain/Loss: Unopened
Time Frame: exit prior to April expiration
New Positions: Yes, see below

Comments:
03/24/14: Ouch! Profit taking in FLT today shaved off -2.39%. The stock fell toward the bottom of its recent trading range and technical support near its 50-dma and 100-dma. Currently we are on the sidelines waiting for a move past resistance.

We are suggesting small bullish positions if FLT can trade at $121.05. If triggered our target is $129.50.

Trigger @ 121.05 *small positions*

- Suggested Positions -

Buy the Apr $125 call (FLT1419D125)

Entry on March -- at $---.--
Average Daily Volume = 1.0 million
Listed on March 22, 2014


Greenbrier Companies - GBX - close: 46.30 change: +0.43

Stop Loss: 44.30
Target(s): April call target: $49.85, June call target: $54.75
Current Option Gain/Loss: Apr$50c: -38.8% & Jun$50c: -15.0%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/24/14: Traders bought the dip in GBX midday and the stock bounced back to a +0.9% gain. The stock remains stuck in a sideways range between $45.00 and $47.25. I am not suggesting new positions at this time.

- 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: 117.26 change: -1.35

Stop Loss: 115.25
Target(s): TBD
Current Option Gain/Loss: -33.6%
Time Frame: exit prior to May expiration
New Positions: see below

Comments:
03/24/14: The small cap index was an underperformer today with the IWM down -1.1%. There was talk about a bubble in small caps after Bloomberg published an article this morning suggesting that the rally in small caps has exceeded the highs of the Internet bubble from 1999-2000. The author points out that the Russell 2000 is "trading for 49 times reported earnings, compared with a multiple of 39 in March 2000." That's a valuation 26% above the 1990s.

The IWM plunged this morning but found support near its mid-March lows in the $116.00 area. I am not suggesting new positions at this time.

- 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


VMware, Inc. - VMW - close: 108.76 change: -0.45

Stop Loss: 106.45
Target(s): 114.75
Current Option Gain/Loss: + 62.8%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
03/24/14: Shares of VMW were upgraded from a "neutral" to a "buy" this morning. This news failed to stop shares of VMW from seeing an intraday drop to $106.63. That almost hit our stop loss before VMW bounced.

I am not suggesting new positions at this time.

- Suggested Positions -

Long Apr $105 call (VMW1419D105) entry $3.50

03/22/14 new stop @ 106.45
03/20/14 new stop @ 105.85
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


Cimarex Energy Co. - XEC - close: 115.77 change: -3.28

Stop Loss: 112.45
Target(s): 128.50
Current Option Gain/Loss: Apr$120c: -39.8% & Jun$125c: -24.0%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
03/24/14: It was not a good day for XEC shareholders. The stock tried to rally this morning but reversed at round-number resistance near $120.00. Shares fell all the way back toward support near $115.00 and then drifted there along the $115 area the rest of the day. Technically today's drop has created a bearish engulfing candlestick reversal pattern on the daily chart.

We have our stop loss at $112.45, which is just below last Thursday's low. More conservative traders may want to consider raising their stop loss closer to the $115.00 mark. I am not suggesting new positions at this time.

- Suggested Positions -

Long APR $120 call (XEC1419D120) entry $3.49

- or -

Long JUN $125 call (XEC1421F125) entry $5.40

03/21/14 triggered @ 118.25

Entry on March 21 at $118.25
Average Daily Volume = 1.3 million
Listed on March 20, 2014




PUT Play Updates

Aegerion Pharmaceuticals - AEGR - close: 45.02 change: -2.72

Stop Loss: 50.75
Target(s): 40.25
Current Option Gain/Loss: +29.5%
Time Frame: exit PRIOR to April expiration
New Positions: see below

Comments:
03/24/14: Our brand new put play on AEGR has been opened. The stock continued to sell-off and posted a -5.6% decline with a fall to round-number support at $45.00. Our entry trigger was hit at $46.90.

Do not be surprised to see a little bounce from the $45.00 mark.

Earlier Comments:
I am suggesting small positions because biotech stocks can be volatile and AEGR already has short interest nearing 20% of its small 28.3 million share float. The Point & Figure chart for AEGR is bearish with a $41 target.

*small positions to limit risk*

Long Apr $45 PUT (AEGR1419P45) entry $2.20*

03/24/13 triggered @ 46.90

Entry on March 24 at $46.90
Average Daily Volume = 1.3 million
Listed on March 22, 2014


Monster Beverage - MNST - close: 67.89 change: -0.94

Stop Loss: 71.10
Target(s): 63.00
Current Option Gain/Loss: - 5.8%
Time Frame: exit prior to April expiration
New Positions: see below

Comments:
03/24/14: MNST dropped another -1.3% following Friday's failed rally. Shares are hitting new four-week lows. I don't see any changes from my prior comments although I will point out that the lows near $66.50 could be short-term support. Don't be surprised to see a bounce there.

Earlier Comments:
Our target is $63.00 (just above the 200-dma). More conservative traders may want to exit near $65.00, which could be new support. FYI: The Point & Figure chart for MNST is bearish with a $64 target.

- Suggested Positions -

Long APR $65 PUT (MNST1419P65) entry $0.85

03/22/14 new stop @ 71.10
03/20/14 triggered @ 69.00

Entry on March 20 at $69.00
Average Daily Volume = 1.7 million
Listed on March 19, 2014


Target Corp. - TGT - close: 59.46 change: +0.01

Stop Loss: 60.35
Target(s): 55.15
Current Option Gain/Loss: Unopened
Time Frame: exit PRIOR to April expiration
New Positions: Yes, see below

Comments:
03/24/14: I am surprised by the relative strength in TGT today. The market produced a widespread decline but TGT just hovered in the $59-60 zone and closed unchanged on the session. That may not bode well for our bearish plans on TGT. At the moment I don't see any changes from my prior comments (the weekend's new play section).

Earlier Comments:
We are suggesting bearish put positions if TGT can trade at $58.80. If triggered our short-term target is $55.15 since the $55.00 level has been support in the past. However, more aggressive investors may want to aim lower. The Point & Figure chart for TGT is bearish with a $51 target.

Trigger @ 58.80

- Suggested Positions -

Buy the Apr $60 PUT (TGT1419P60)

Entry on March -- at $---.--
Average Daily Volume = 6.9 million
Listed on March 22, 2014


Twitter, Inc. - TWTR - close: 48.77 change: -2.15

Stop Loss: 54.15
Target(s): 41.85
Current Option Gain/Loss: +66.6%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
03/24/14: TWTR has finally broken down below support near $50.00. Shares underperformed the market today with a -4.2% decline. I am lowering our stop loss to $54.15. More conservative traders may want to tighten their stop even further. I am not suggesting new positions.

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

03/24/14 new stop @ 54.15
03/20/14 new stop @ 55.15
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



CLOSED BULLISH PLAYS

Spirit Airlines - SAVE - close: 60.32 change: +0.52

Stop Loss: 58.45
Target(s): 67.50
Current Option Gain/Loss: -56.2%
Time Frame: 4 to 5 weeks
New Positions: see below

Comments:
03/24/14: It was a volatile session for SAVE. After a -3.5% drop on Friday the selling continued on Monday morning with another -3.2% decline before shares bounced back into positive territory. Our stop loss was hit at $58.45.

- Suggested Positions -

Apr $60 call (SAVE1419D60) entry $3.20 exit $1.40* (-56.2%)

03/24/14 stopped out
*option entry price is an estimate since the option did not trade at the time our play was opened.
03/18/14 new stop @ 58.45, adjust exit target from $65.00 to $67.50
03/11/14 triggered @ 60.50

chart:

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