Editor's Note:

The market managed gains on Monday but it was a bumpy ride for investors with a lot of intraday swings.

GPOR and AVGO hit our entry triggers. SSYS hit our stop loss.


Current Portfolio:


CALL Play Updates

Caterpillar Inc. - CAT - close: 102.78 change: +1.33

Stop Loss: 99.75
Target(s): 109.00
Current Option Gain/Loss: + 5.9%
Time Frame: exit PRIOR to earnings on April 24th
New Positions: see below

Comments:
04/14/14: CAT surged off its morning lows and outperformed the broader market with a +1.3%. Shares are still below resistance in the $103.50 region.

Earlier Comments:
Our exit target is $109.00. However, we do not have much time for CAT to perform. The company is scheduled to report earnings on April 24th and we do not want to hold over the announcement.

- Suggested Positions -

Long MAY $105 call (CAT1417E105) entry $1.52

04/08/14 triggered @ 102.35

Entry on April 08 at $102.35
Average Daily Volume = 5.9 million
Listed on April 07, 2014


Gulfport Energy - GPOR - close: 74.00 change: +0.00

Stop Loss: 71.70
Target(s): 79.50
Current Option Gain/Loss: -14.2%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
04/14/14: Hmm... it was a disappointing session for GPOR. Shares displayed some volatility today with a spike lower this morning that quickly reversed into a rally to new highs. Our trigger to buy calls was hit at $74.25. GPOR managed to hit an intraday high of $75.75. Unfortunately the stock gave back all of its gains to close flat on the session. We should be cautious here. The sharp pullback from its highs might be interpreted as a potential top.

- Suggested Positions -

Long May $75 call (GPOR1417E75) entry $3.85*

04/14/14 triggered @ 74.25

Entry on April 14 at $74.25
Average Daily Volume = 1.45 million
Listed on April 12, 2014


QUALCOMM Inc. - QCOM - close: 79.14 change: +1.13

Stop Loss: 77.40
Target(s): to be determined
Current Option Gain/Loss: - 7.4%
Time Frame: Exit PRIOR to earnings on April 23rd
New Positions: see below

Comments:
04/14/14: QCOM managed to outpace the market's bounce today with a +1.4% gain. The stock closed near its high for the day, which should bode well for tomorrow morning.

Earlier Comments:
Prepare to exit prior to QCOM's earnings report on April 23rd.

- Suggested Positions -

Long MAY $80 call (QCOM1417E80) entry $1.87

04/09/14 opened on Wednesday morning.

Entry on April 09 at $79.26
Average Daily Volume = 2.0 million
Listed on April 08, 2014




PUT Play Updates

Advance Auto Parts - AAP - close: 117.20 change: +0.95

Stop Loss: 120.25
Target(s): 110.50
Current Option Gain/Loss: + 12.5%
Time Frame: exit PRIOR to earnings on May 15th
New Positions: see below

Comments:
04/14/14: AAP recovered about half of Friday's declines but it's worth noting that AAP did close well off its Monday highs. Traders might want to look for a drop below today's low (115.76) as an alternative entry point to buy puts.

- Suggested Positions -

Long May $115 PUT (AAP1417Q115) entry $3.20

04/11/12 triggered @ 117.25

Entry on April 11 at $117.25
Average Daily Volume = 752 thousand
Listed on April 10, 2014


Avago Technologies - AVGO - close: 58.82 change: +0.29

Stop Loss: 60.35
Target(s): 53.00
Current Option Gain/Loss: -23.8%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/14/14: During the market's afternoon swoon we saw shares of AVGO dip to new relative lows and hit our trigger at $58.35. I don't see any other changes from our weekend new play comments.

FYI: It should not be a stock-moving event but investors may want to be aware that AVGO is in the process of acquiring LSI Logic for $6.6 billion. The acquisition is expected to be completed in the first half of 2014.

FYI: The Point & Figure chart for AVGO is bearish with a $52 target.

- Suggested Positions -

Long May $57.50 PUT (AVGO1417Q57.5) entry $2.10*

04/14/14 triggered @ 58.35

Entry on April 14 at $58..5
Average Daily Volume = 2.1 million
Listed on April 12, 2014


Lockheed Martin Corp. - LMT - close: 155.82 change: +2.00

Stop Loss: 158.25
Target(s): 146.00
Current Option Gain/Loss: -17.0%
Time Frame: exit PRIOR to earnings on April 22nd
New Positions: see below

Comments:
04/14/14: LMT produced a bounce today and managed to outperform the major indices with a +1.3% gain. More conservative traders might want to consider adjusting their stops closer to today's high (157.16).

Earlier Comments:
Our target is $146.00 but keep a wary eye on the $150.00 mark, which is potential round-number support.

This is a short-term trade. LMT is scheduled to report earnings on April 22nd and we do not want to hold over the announcement.

- Suggested Positions -

Long May $150 PUT (LMT1417Q15) entry $2.35*

04/12/14 triggered @ 154.50
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on April 11 at $154.50
Average Daily Volume = 1.7 million
Listed on April 10, 2014


CLOSED BEARISH PLAYS

Stratasys Ltd. - SSYS - close: 96.78 change: +2.20

Stop Loss: 100.50
Target(s): 81.00
Current Option Gain/Loss: -15.7%
Time Frame: 4 to 6 weeks
New Positions: see below

Comments:
04/14/14: SSYS was too volatile for us. Shares popped open higher this morning after Goldman Sachs initiated coverage with a "buy" rating and a $146 price target. The gap higher did affect our entry point on the option (providing a lower price).

SSYS managed to trade up to $100.57 before the bounce ran out of steam and shares retreated back under the $97 level. Unfortunately our stop loss was at $100.50.

*Small Positions*

May $90 PUT (SSYS1417Q90) entry $3.50 exit $2.95* (-15.7%)

04/14/14 stopped out at $100.50
04/14/14 trade opens on gap higher at $97.16

Annotated Chart:

Entry on April 14 at $97.16
Average Daily Volume = 1.3 million
Listed on April 12, 2014