Editor's Note:

The stock market delivered widespread gains on Tuesday but the small caps underperformed.

We want to exit our CTRX trade tomorrow.


Current Portfolio:


CALL Play Updates

Adobe Systems - ADBE - close: 60.91 change: +0.51

Stop Loss: 59.45
Target(s): to be determined
Current Option Gain/Loss: -49.3%
Time Frame: 8 to 12 weeks
New Positions: see below

Comments:
04/29/14: ADBE has started to bounce from support near $60.00 with a +0.8% gain. Readers could use this rebound as a new entry point for bullish 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: 70.48 change: +0.20

Stop Loss: 69.45
Target(s): 74.75
Current Option Gain/Loss: - 9.7%
Time Frame: exit PRIOR to earnings on May 7th
New Positions: see below

Comments:
04/29/14: DVN's performance today was disappointing. The stock shot higher this morning and almost hit $71.50 before giving back a full point. Odds are we will see DVN retest the $70.00 level again.

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: 72.22 change: +1.26

Stop Loss: 69.25
Target(s): to be determined
Current Option Gain/Loss: -17.6%
Time Frame: exit PRIOR to earnings in May
New Positions: see below

Comments:
04/29/14: FANG managed to outperform the broader market with a +1.7% gain. It looks like the 10-dma did act as resistance today (as did the $73.00 level).

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: 35.76 change: -0.08

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:
04/29/14: POT rallied toward its March high and reversed. The intraday high today was $36.24. 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


Ventas, Inc. - VTR - close: 65.92 change: +0.19

Stop Loss: 64.75
Target(s): to be determined
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Comments:
04/29/14: VTR inched higher today and closed near potential resistance at $66.00 and its simple 300-dma. There is no change from last night's new play description on VTR.

Earlier Comments:
We're suggesting investors wait for a move above the April high ($66.30). The newsletter's suggested entry point is $66.35 with a stop at $64.75.

Trigger @ 66.35

- Suggested Positions -

Buy the Aug $65 call (VTR1416H65) current ask $2.65

Entry on April -- at $---.--
Average Daily Volume = 1.6 million
Listed on April 28, 2014




PUT Play Updates

Catamaran - Corp. - CTRX - close: 38.76 change: +0.03

Stop Loss: 39.55
Target(s): to be determined
Current Option Gain/Loss: - 4.5%
Time Frame: Exit PRIOR to earnings on May 1st
New Positions: see below

Comments:
04/29/14: Shares of CTRX have been churning sideways the last few days. It could be investors waiting to hear the company's earnings report, which is due out on May 1st.

We will plan on exiting this trade tomorrow (April 30th) at the closing bell to avoid holding over the earnings announcement.

I am moving our stop loss down to $39.55.

- Suggested Positions -

Long May $40 PUT (CTRX1417Q40) entry $2.20

04/29/14 prepare to exit tomorrow
new stop @ 39.55
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: 28.48 change: +1.59

Stop Loss: 30.25
Target(s): to be determined
Current Option Gain/Loss: -28.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/29/14: Tensions on the Ukrainian border seemed to cool a bit today and shares of QIWI surged +5.9%. At this point I would wait for a new failed rally below $30.00 before considering new bearish positions.

Do you think Russian President Putin would push this far only to back down now?

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: 152.31 change: +0.84

Stop Loss: 156.15
Target(s): to be determined
Current Option Gain/Loss: + 2.7%
Time Frame: exit PRIOR to earnings on May 9th
New Positions: see below

Comments:
04/29/14: RL regained about half of yesterday's decline. A quick look at the intraday chart shows the bounce stalling under the $153.00 level. I would still consider new bearish positions.

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: 107.50 change: +0.43

Stop Loss: 109.25
Target(s): 100.50
Current Option Gain/Loss: -11.7%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/29/14: TM's bounce this morning stalled near resistance at the $108 level. Readers could use this move as a new bearish entry point. Just keep in mind our plan to exit prior to earnings coming up in a few days.

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