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Mon: Top Buys OEX Top Sells SPY IWM CME OIH PD FCX GOOG

Primary Trades:

SPY Jun or later puts are buys above 130 1/4. Also, IWM May or later puts are buys around 75 1/2.

Secondary Trades:

The following are more risky trades:

OEX Apr 585 calls on market pullbacks can be used to partially hedge longer-term puts.

CME volatility may continue. Puts are buys above 490.

OIH may pullback before the Oil Inventory report Wed morning. Apr 155 puts are buys for quick trades.

PD and FCX May or later puts are buys on overreactions, e.g. PD above 88 and FCX above 64.

GOOG May puts may be buys. GOOG may fall on earnings next week.

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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.