Dear Cap Gainers,

Below is the Watchlist Plus that I am watching from the original lists from Frank and Griff for names that are important.  Anytime option pricing or underlying pricing moves to an extreme or a significant event is at hand, I will add to our active list.

Right now I am looking for cheaper implied volatility, since that is the counter trend going on.  In my active watch list that will show up in green on the Sigma on the right.

ALB

With the lower IV here I am looking to set up a long strangle. I am looking for a stock trend to develop.

CHPT

Solid downtrend here with lower IV.  I can see a short term short delta with longer term call.  IV is relatively low.

CLF

Implied volatility is just fair here but moving into a 10 day downswing.  The trade I own here is already looking for a bounce.

COLD

This is a potential long once the 10 day slide stops.  IV is cheaper in COLD but options are relatively illiquid.

F

10 day downswing in F with relatively cheap options.  I do like this as a long gamma trade but waiting for things to cool a bit.  IV is relatively low.

JNJ

Lower Implied volatility in JNJ and the beginning of a downtrend on a stock that has held up well.  If the selloff stops, I can see money flowing into defensive positions and low IV makes a call buy reasonable.

LUV

The stock is flat but the options are cheap.  Frank has written on the turmoil in airlines and planes are full but need lower oil prices to really make money.  Option IV is cheaper here.