Editor's Note:

The stock market shrugged off the disappointing Q1 U.S. GDP estimate.

DVN was stopped out. GILD hit our entry trigger. CTRX was closed.


Current Portfolio:


CALL Play Updates

Adobe Systems - ADBE - close: 61.69 change: +0.78

Stop Loss: 59.45
Target(s): to be determined
Current Option Gain/Loss: -36.8%
Time Frame: 8 to 12 weeks
New Positions: see below

Comments:
04/30/14: The bounce from support continues with ADBE gaining +1.28% today. I don't see any changes from my prior comments. I did hear Dr. J issuing bullish comments on ADBE on CNBC today.

- 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


Diamondback Energy, Inc. - FANG - close: 71.94 change: -0.28

Stop Loss: 69.25
Target(s): to be determined
Current Option Gain/Loss: -32.3%
Time Frame: exit PRIOR to earnings in May
New Positions: see below

Comments:
04/30/14: Energy stocks underperformed the broad market indices on Wednesday. Shares of FANG dipped toward support near $70 and its 20-dma before bouncing. More conservative traders might want to inch their stop loss higher.

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


Gilead Sciences - GILD - close: 78.49 change: +2.25

Stop Loss: 73.45
Target(s): to be determined (potentially $85.00)
Current Option Gain/Loss: +35.3%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
04/30/14: Our brand new play on GILD is open. Traders bought the dip near $75.50 this morning and then rallied to new relative highs. Our trigger to buy calls was hit at $77.00.

Earlier Comments:
If triggered our temporary target is $84.75. We'll re-evaluate our exit strategy as the trade progresses.

- Suggested Positions -

Long Jun $80 call (GILD1421F80) entry $2.12

04/30/14 triggered @ 77.00

Entry on April 30 at $77.00
Average Daily Volume = 23 million
Listed on April 29, 2014


Potasch Corp. of Saskatchewan - POT - close: 36.16 change: +0.40

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:
04/30/14: Shares of POT continue to inch higher. The stock outperformed the market with a +1.1% gain today. The stock looks poised to breakout to new relative highs soon.

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: 66.08 change: +0.16

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:
04/30/14: VTR also drifted higher after traders bought the dip this morning. O I don't see any changes from my prior comments.

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

QIWI Plc - QIWI - close: 28.93 change: +0.45

Stop Loss: 30.25
Target(s): to be determined
Current Option Gain/Loss: -34.0%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
04/30/14: QIWI is still bouncing and added another +1.5% on Wednesday. At this point I would wait for a new failed rally below $30.00 before considering new bearish positions.

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: 151.37 change: -0.94

Stop Loss: 156.15
Target(s): to be determined
Current Option Gain/Loss: +13.5%
Time Frame: exit PRIOR to earnings on May 9th
New Positions: see below

Comments:
04/30/14: RL bounced off the $150 level this morning. Yet shares still underperformed the major indices.

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: 108.42 change: +0.92

Stop Loss: 109.25
Target(s): 100.50
Current Option Gain/Loss: -36.9%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
04/30/14: The Japanese stock market managed a gain today, which may have given TM a boost. The stock is up three days in a row and the close of above $108 is arguably short-term bullish (within its longer-term bearish trend).

Our stop loss is at $109.25 but that is because we plan on exiting prior to TM's earnings report in the next week or so. More aggressive traders may want to move their stop so it's above technical resistance at the 50-dma.

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

Devon Energy - DVN - close: 70.00 change: -0.48

Stop Loss: 69.45
Target(s): 74.75
Current Option Gain/Loss: -30.9%
Time Frame: exit PRIOR to earnings on May 7th
New Positions: see below

Comments:
04/30/14: The stock market's early morning drop was too much for shares of DVN. The stock fell below short-term support near $70.00 and dipped to $69.45 before paring its losses. Our stop loss just happened to be $69.45.

- Suggested Positions -

May $70 call (DVN1417E70) entry $1.94* exit $1.34** (-30.9%)

04/30/14 stopped out at low of the day
**option exit price is an estimate since the option did not trade at the time our play was closed.
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.

chart:

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


CLOSED BEARISH PLAYS

Catamaran - Corp. - CTRX - close: 37.75 change: -1.01

Stop Loss: 39.55
Target(s): to be determined
Current Option Gain/Loss: +25.0%
Time Frame: Exit PRIOR to earnings on May 1st
New Positions: see below

Comments:
04/30/14: CTRX was kind enough to drop to new relative lows before we exited this trade. Our plan was to exit today at the closing bell to avoid holding over the earnings report out tomorrow.

- Suggested Positions -

May $40 PUT (CTRX1417Q40) entry $2.20 exit $2.75 (+25.0%)

04/30/14 planned exit
04/29/14 prepare to exit tomorrow
new stop @ 39.55
04/21/14 CTRX opened @ $39.06

chart:

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