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MAY RECOMMENDED PUT WRITE PLAYS for 4-18-06

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MAY RECOMMENDED PUT WRITE PLAYS

We recommending the following 4 put writes for our MAY RECOMMENDED LIST

We are recommending put writes in the following issues:

OMG - OM Group, Inc. engages in the development, processes, manufacture, and marketing of specialty chemicals, powders, and related products from various base metals, primarily cobalt and nickel. The company operates in two segments, Cobalt and Nickel. The Cobalt segment offers products manufactured using cobalt and other metals, such as copper, zinc, manganese, and calcium. The Nickel segment provides nickel-based products.

MTLM - Metal Management, Inc., along with its subsidiaries, engages in the collection and processing of ferrous and nonferrous metals. The company collects industrial scrap metal and obsolete scrap metal, processes it into reusable forms, and supplies the recycled metals to its customers, including electric-arc furnace mills, integrated steel mills, foundries, secondary smelters, and metals brokers. Its ferrous products include shredded, sheared, cold briquetted, and bundled scrap metal; and other purchased scrap metal, such as turnings, cast, and broken furnace iron.

PAY - VeriFone Holdings, Inc. engages in the design and marketing of system solutions for electronic payment transactions and value-added services at point of sale. Its system solutions include point of sale electronic payment devices, security and encryption software, and certified payment software, as well as third party applications.

PLLL - Parallel Petroleum Corporation engages in the acquisition, development, and exploitation of oil and natural gas reserves in Texas and New Mexico. It produces and sells oil and natural gas. The company's properties are located in Permian Basin of west Texas and New Mexico; Fort Worth Basin of north Texas; and the onshore gulf coast area of south Texas. Its properties in Permian Basin of west Texas and New Mexico includes Wolfcamp Gas Project, Fullerton San Andres Field, Carm-Ann San Andres Field/N. Means Queen Unit, Harris San Andres Field, Diamond M Shallow Leases, and Diamond M Canyon Reef Unit.

We are recommending the following specific put writes below:

PAY 31.46
SELL PAY MAY SYM: PAY-QF
Target Price $50.00 30 Put
Potential Profit(10 x = $500.00

Initial Margin $6,792 10 (contracts)
Return on Investment 7.36%
Cost Basis in Stock = $29.50
Days to Expiration = 30
Stock goes on Watch List Price at: $30.75
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $30.00


MTLM $32.06
SELL MTLM MAY SYM: MQB-QF
Target Price $50.00 30 Put
Potential Profit(10 x = $500.00

Initial Margin $6,912 10 (contracts)
Return on Investment 7.23%
Cost Basis in Stock = $29.50
Days to Expiration = 20
Stock goes on Watch List Price at: $31.00
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $30.00


OMG $26.48
SELL OMG MAY SYM: OMG-QE
Target Price $60.00 25 Put
Potential Profit(10 x = $600.00
Initial Margin $5,896 10 (contracts)
Return on Investment 10.18%
Cost Basis in Stock = $24.40
Days to Expiration = 30
Stock goes on Watch List Price at: $26.00
STOP EXIT STRATEGY
Close option position if Stock drops to => $25.00

PLLL 22.53
SELL PLLL MAY SYM: QPF-QD
Target Price $30.00 20 Put
Potential Profit(10 x = $300.00
Initial Margin $4,806 10 (contracts)
Return on Investment 6.24%
Cost Basis in Stock = $19.70
Days to Expiration =
Stock goes on Watch List Price at: $21.50
STOP EXIT STRATEGY
Close option position if Stock drops to => $20.00

If these positions are filled this will be our first four (4) positions on our MAY RECOMMENDED LIST

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