Editor's Note:

The Dow Industrials produced multiple triple-digit moves in today's session. The NASDAQ composite was off -1.49% at its worst levels of the session. Then equities bounced this afternoon.

Bill Griffeth, on CNBC, called it a "crazy day" for the markets.

Traders are reacting to every headline regarding the Ukraine-Russia situation.

We saw our NUS trade get stopped out.


Current Portfolio:


CALL Play Updates

Adobe Systems - ADBE - close: 60.40 change: -1.21

Stop Loss: 59.45
Target(s): to be determined
Current Option Gain/Loss: -52.1%
Time Frame: 8 to 12 weeks
New Positions: see below

Comments:
04/28/14: The profit taking in ADBE continues with shares falling to support near $60.00. The intraday low was $59.62 before the stock bounced. This area should be support but readers may want to wait and see if the major indices open positive tomorrow before launching new positions.

- Suggested Positions -

Long Jul $65 call (ADBE1419G65) entry $3.20

04/21/14 ADBE opened at $64.00

Entry on April 21 at $64.00
Average Daily Volume = 4.8 million
Listed on April 19, 2014


Devon Energy - DVN - close: 70.28 change: -0.12

Stop Loss: 69.45
Target(s): 74.75
Current Option Gain/Loss: -13.4%
Time Frame: exit PRIOR to earnings on May 7th
New Positions: see below

Comments:
04/28/14: DVN also pulled back to what should be support near $70.00 and its simple 10-dma. The intraday low was $69.65. Our stop loss is at $69.45. I would be tempted to buy calls again on a rise above $70.55.

We will plan on exiting prior to earnings on May 7th. FYI: The Point & Figure chart for DVN is bullish with a $95 target.

- Suggested Positions -

Long May $70 call (DVN1417E70) entry $1.94*

04/17/14 triggered @ 70.35
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on April 17 at $70.35
Average Daily Volume = 3.7 million
Listed on April 16, 2014


Diamondback Energy, Inc. - FANG - close: 70.96 change: -0.48

Stop Loss: 69.25
Target(s): to be determined
Current Option Gain/Loss: -44.1%
Time Frame: exit PRIOR to earnings in May
New Positions: see below

Comments:
04/28/14: FANG dipped below the $70.00 level before paring its losses. Shares fell to $69.32 intraday. Our stop loss is at $69.25. I would be tempted to buy calls above $71.55 but readers may want to wait for a new close above its 10-dma.

Earlier Comments:
FANG could see some short covering. The most recent data listed short interest at 37% of the small 32.5 million share float. That's plenty of fuel for a short squeeze. FYI: The Point & Figure chart for FANG is bullish with an $85 target.

- Suggested Positions -

Long May $75 call (FANG1417E75) entry $1.70*

04/25/14 adjust stop to $69.25
04/21/14 new stop @ 69.45
04/19/14 new stop @ 68.75
04/16/14 triggered @ 71.25
*option entry price is an estimate since the option did not trade at the time our play was opened.

Entry on April 16 at $71.25
Average Daily Volume = 948 thousand
Listed on April 14, 2014


Potasch Corp. of Saskatchewan - POT - close: 35.84 change: +0.12

Stop Loss: 34.45
Target(s): to be determined
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 months
New Positions: Yes, see below

Comments:
04/28/14: POT continued to inch higher today. I don't see any changes from our weekend newsletter's new play description on POT.

Earlier Comments:
(some of my earlier comments) The March high in POT's share price was $36.29. We are suggesting a trigger to buy calls at $36.50. We're not setting an exit target just yet. We'll start with a stop at $34.45.

FYI: rival potash producers Agrium (AGU) and Mosaic (MOS) both report earnings on May 6th. Their results and guidance could influence trading in POT.

Trigger @ $36.50

- Suggested Positions -

Buy the Sept $35 call (POT1420i35)

Entry on April -- at $---.--
Average Daily Volume = 5.0 million
Listed on April 26, 2014




PUT Play Updates

Catamaran - Corp. - CTRX - close: 38.73 change: -0.22

Stop Loss: 40.65
Target(s): to be determined
Current Option Gain/Loss: + 0.0%
Time Frame: Exit PRIOR to earnings on May 1st
New Positions: see below

Comments:
04/28/14: CTRX tagged new two-week lows near $38.00 before paring its losses. I don't see any changes from my weekend comments.

Earlier Comments:
CTRX is scheduled to earnings again on May 1st. We do not want to hold over the announcement. We're not setting at target to tonight but I would probably aim for the $35 region.

FYI: The Point & Figure chart for CTRX is bearish with a long-term $23 target.

- Suggested Positions -

Long May $40 PUT (CTRX1417Q40) entry $2.20

04/21/14 CTRX opened @ $39.06

Entry on April 21 at $39.06
Average Daily Volume = 3.3 million
Listed on April 19, 2014


QIWI Plc - QIWI - close: 26.89 change: -0.66

Stop Loss: 30.25
Target(s): to be determined
Current Option Gain/Loss: - 8.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/28/14: Our new play on QIWI is off to a good start. Shares underperformed the market with a -2.39% decline. The stock gapped down this morning at $27.37. I don't see any changes from the weekend newsletter's new play description.

Earlier Comments:
I suggest small positions to limit risk. We're not setting an exit target yet but the P&F chart for QIWI is bearish with a $19 target.

*Small Positions* - Suggested Positions -

Long Jun $25 PUT (QIWI1421R25) entry $2.50

04/28/14 trade opened. QIWI gapped down at $27.37

Entry on April 28 at $27.37
Average Daily Volume = 657 thousand
Listed on April 26, 2014


Ralph Lauren Corp. - RL - close: 151.47 change: -1.62

Stop Loss: 156.15
Target(s): to be determined
Current Option Gain/Loss: +10.8%
Time Frame: exit PRIOR to earnings on May 9th
New Positions: see below

Comments:
04/28/14: RL underperformed the market with a -1.0% decline. Shares were a lot lower intraday, trading near $149.00. I don't see any changes from my weekend comments.

Earlier Comments:
If you are patient enough traders could aim for a drop toward $140. The Point & Figure chart is actually very bearish and forecasting at $112 target. We're not setting an exit target yet but plan on exiting positions prior to RL's next earnings report on May 9th.

- Suggested Positions -

Long May $150 PUT (RL1417Q150) entry $3.70

04/26/14 new stop @ 156.15
04/24/14 triggered @ 152.45

Entry on April 24 at $152.45
Average Daily Volume = 891 thousand
Listed on April 21, 2014


Toyota Motor Corp. - TM - close: 107.07 change: +0.58

Stop Loss: 109.25
Target(s): 100.50
Current Option Gain/Loss: + 4.5%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/28/14: After a multi-day drop TM managed a miniature bounce today with a +0.5% gain. Look for resistance near $108.00.

Earlier Comments:
Our target is $100.50. However, we will plan to exit prior to TM's earnings report in May. The company has not set a date yet but we expect the announcement to be in the first half of May and will update our exit when they publish their earnings date. FYI: The Point & Figure chart for TM is bearish with a $90 target.

- Suggested Positions -

Long May $105 PUT (TM1417Q105) entry $1.11

04/26/14 new stop @ 109.25
04/23/14 TM opens at $108.28

Entry on April 23 at $108.28
Average Daily Volume = 602 thousand
Listed on April 22, 2014



CLOSED BULLISH PLAYS

Nu Skin Enterprises - NUS - close: 86.16 change: -1.58

Stop Loss: 85.45
Target(s): $96.50
Current Option Gain/Loss: -17.7%
Time Frame: 3 to 5 weeks
New Positions: see below

Comments:
04/28/14: NUS traded below its 10-dma and hit our new stop loss at $85.45. It is worth noting that shares bounced near the $85.00 mark. Readers may want to keep this stock on their watch list for a close above resistance near $90.00.

- Suggested Positions -

May $90 call (NUS1417E90) entry $3.04 exit $2.50* (-17.7%)

04/28/14 stopped out
*option exit price is an estimate since the option did not trade at the time our play was closed.
04/26/14 new stop @ 85.45
04/22/14 set bullish exit target at $96.50
04/21/14 triggered @ 84.50

chart:

Entry on April 21 at $84.50
Average Daily Volume = 1.8 million
Listed on April 19, 2014