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Oil prices will not take a backseat to any market story, even the Dow had to retreat over 100 points today. It will be interesting to see just how long the market can ignore record high crude prices. The downward pressure today as well as the British Subway explosion should give "put writers" a chance to pick up a little premium as news and oil prices weight on the DOW.

Below are our recommended "put writes". Please note that we are now going to be putting more then one recommendation at a time to make it easier to implement our strategy.

DCGN, OVEN, TIV, OVEN, REGN and GME are our most recommended plays. I have also included some selected secondary plays for your perusal. Remember option writing still requires a favorable performance from the underlying security or at least a sideways performance to maximize the put premiums.

SELL DCGN AUG: 7.5 PUT SYM: QDB-TU

Target Price $0.20 or $20
Potential Profit (5x) = $100
Initial Margin $1,050
Return on Investment 7.30%
Cost Basis in Stock = $7.50
Days to Expiration = 43

SELL OVEN AUG: 15 PUT SYM: TCF-TC

Target Price" $0.45 or $45
Potential Profit (5x) = $225
Initial Margin $2,010
Return on Investment 11.19%
Cost Basis in Stock = $14.55
Days to Expiration = 43

SELL TIV AUG: 12.5 PUT SYM: TIV-TV

Target Price $0.55 or $55
Potential Profit (5x) = $275
Initial Margin $1,675
Return on Investment 16.42%
Cost Basis in Stock = $11.95
Days to Expiration = 43


SELL REGN AUG: 7.5 PUT SYM: RQP-TU

Target Price $0.30 or $30
Potential Profit (5x) = $150
Initial Margin $1,050
Return on Investment 14.23%
Cost Basis in Stock = $7.20
Days to Expiration = 43

SELL GME AUG: 30 PUT SYM: GME-TF

Target Price .90 or $90
Potential Profit (5x) = $100
Initial Margin $3,759
Return on Investment 11.97%
Cost Basis in Stock = $29.10
Days to Expiration = 43

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