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Wed: Top Buys QQQQ OIH Top Sells SPY SPX

Primary Trades:

SPY Mar 128 to 130 puts remain a buy. SPY may fall below 125 in late Feb or early Mar.

OIH Mar 140 calls closed at 5.20 and may be a buy on a small pullback. OIH closed above 137 and it's down 20 1/2 points over the past 12 trading days. The low today was just above 136, which is major support. A fall below 136 1/2 before the oil inventory report at 10:30 AM ET may be an opportunity to buy Feb 135 calls (although a more risky trade).

Secondary Trades:

QQQQ long-term calls, e.g. Jun 40, may be buys to partially hedge puts, in case the market continues to rally (e.g. oil falling to 50). QQQQ and Nasdaq are relatively undervalued.

SPX Feb 1,280 or 1,285 puts may be a buy around 1,280 for a quick trade. However, economic data before the open should set early direction.

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Primary Trade: An intermediate or long term trade. Timing can be off substantially. Volatility not a factor. Risk is low to moderate. Potential return is often moderate.

Secondary Trade: A short term trade. Timing must be accurate or volatility must be high. Risk is high. Potential return is high.

Secondary Trades should be generally avoided, although considered. Note: If Secondary Trades are taken, they may affect Primary Trades.