Editor's Note:

Not surprisingly the market did not see a lot of movement ahead of tomorrow's jobs report.

VTR hit our bullish entry point.

QIWI and TM hit our stop loss.


Current Portfolio:


CALL Play Updates

Adobe Systems - ADBE - close: 62.59 change: +0.90

Stop Loss: 59.45
Target(s): to be determined
Current Option Gain/Loss: -27.8%
Time Frame: 8 to 12 weeks
New Positions: see below

Comments:
05/01/14: The bounce in ADBE continued for a third day and shares added another +1.4%. I am not suggesting new positions at this time. The $65 level and the 50-dma remain potential overhead resistance.

- 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: 71.27 change: -0.67

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:
05/01/14: FANG ricocheted between short-term support near $70 and short-term resistance at its 10-dma. The stock eventually underperformed with a -0.9% decline. I am not suggesting new positions.

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: 79.02 change: +0.53

Stop Loss: 74.45
Target(s): to be determined (potentially $85.00)
Current Option Gain/Loss: +41.5%
Time Frame: 4 to 8 weeks
New Positions: see below

Comments:
05/01/14: The rally in GILD continued and shares challenge resistance near $80.00 today. I would not be surprised to see GILD retreat here and dip back toward the $76 area before moving higher. We are moving the stop loss to $74.45.

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

05/01/14 new stop @ 74.45
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: 36.25 change: +0.09

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:
05/01/14: Traders bought the dip in POT at the $36.00 level midday. The rebound managed to produce a minor gain by the closing bell. Yet POT is still trading under resistance near $36.50. If shares see any follow through higher tomorrow we could see POT hit our entry point.

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) current ask $2.53

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


Ventas, Inc. - VTR - close: 66.64 change: +0.56

Stop Loss: 64.75
Target(s): to be determined
Current Option Gain/Loss: +3.6%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
05/01/14: VTR hit our entry point. The stock pushed to new six-month highs and outperformed the broader market with a +0.8% gain. Our trigger to buy calls was hit at $66.35.

- Suggested Positions -

Long Aug $65 call (VTR1416H65) entry $2.75

05/01/14 triggered @ 66.35

Entry on May 01 at $66.35
Average Daily Volume = 1.6 million
Listed on April 28, 2014




PUT Play Updates

ASML Holdings - ASML - close: 81.35 change: -0.05

Stop Loss: 82.05
Target(s): to be determined
Current Option Gain/Loss: Unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Comments:
05/01/14: ASML did not see a lot of movement today. That's not surprising as many investors are probably waiting on the jobs data tomorrow.

I don't see any changes from our Wednesday night new play description on ASML.

Earlier Comments:
More aggressive traders could buy puts here. I am suggesting a trigger to buy puts at $79.85. That's just under the April 16th low of $79.94. I will point out that ASML might have some support near $75.00, which is near a long-term trend line of higher lows. However, the Point & Figure chart for ASML is bearish with a $67.00 target.

Trigger @ 79.85

- Suggested Positions -

Buy the Jun $80 (ASML1421F80)

Entry on April -- at $---.--
Average Daily Volume = 1.4 million
Listed on April 30, 2014


Ralph Lauren Corp. - RL - close: 153.40 change: +2.03

Stop Loss: 155.10
Target(s): to be determined
Current Option Gain/Loss: - 8.1%
Time Frame: exit PRIOR to earnings on May 9th
New Positions: see below

Comments:
05/01/14: I don't see any company specific news to account for today's relative strength (+1.3%) in shares of RL. More conservative traders may want to consider an early exit. We are moving the stop; loss down to $155.10.

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

05/01/14 new stop @ 155.10
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


CLOSED BEARISH PLAYS

QIWI Plc - QIWI - close: 29.69 change: +0.76

Stop Loss: 30.25
Target(s): to be determined
Current Option Gain/Loss: -45.6%
Time Frame: 3 to 6 weeks
New Positions: see below

Comments:
05/01/14: QIWI is not cooperating with a bounce above what should have been resistance at $30.00 and its 10-dma. Our stop loss was hit at $30.25. The overall trend for QIWI is still bearish. Readers may want to keep QIWI on their watch list for a new bearish entry point.

Earlier Comments:
I suggest small positions to limit risk.

*Small Positions* - Suggested Positions -

Jun $25 PUT (QIWI1421R25) entry $2.50 exit $1.36 (-45.6%)

05/01/14 stopped out @ 30.25
04/28/14 trade opened. QIWI gapped down at $27.37

chart:

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


Toyota Motor Corp. - TM - close: 109.73 change: +1.31

Stop Loss: 109.25
Target(s): 100.50
Current Option Gain/Loss: -69.3%
Time Frame: 3 to 4 weeks
New Positions: see below

Comments:
05/01/14: Earnings are still not expected for several days but TM did release its April sales data today. The company said April 2014 auto sales surged +9% from a year ago. This better than expected news produced a gap higher this morning and shares of TM opened at $110.02. Our stop loss was at $109.25 so our trade was immediately closed.

It is worth noting that the bounce stalled at round-number resistance near $110 and under technical resistance at its 50-dma. The long-term trend from its 2013 highs is still lower.

- Suggested Positions -

May $105 PUT (TM1417Q105) entry $1.11 exit $0.34 (-69.3%)

05/01/14 stopped out on gap higher at $110.02
04/26/14 new stop @ 109.25
04/23/14 TM opens at $108.28

chart:

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