This is the video recording of the May Options Conference Call with Sean McLaughlin & JC Parets.

It's been a while since we've had some bearish setups to tackle. My bearish muscles are out of practice!

But the ASC team during the most recent Monthly Charts Session pointed out some bearish developments in the Nasdaq 100.

SpaceX has made it cool to talk and dream about Space again. I'm sure many of you, like me, had dreams of being an Astronaut and walking on the moon when you were growing up.

Now that I've grown up, I dream of stocks going on rocket ship rides to the moon. Same difference ;)

The ASC team has been writing a lot recently about how markets are looking a bit "messy" right now. This isn't a bullish or bearish declaration, it's just an indication that many of the recent moves we've seen are likely to hit into some consolidation.

And as an options traders, the word "consolidation" should trigger thoughts of delta neutral credit spreads.

With this in mind, I've identified a good short strangle candidate.

I've been following a name All Star Charts has been long from the Young Aristocrats column since late last year. Strazza and the team recently reiterated the bullish setup in this stock in a report on the Space Exploration industry.

I've been waiting for a pullback to get involved, and today feels like the pullback I've been waiting for.

Readers of All Star Charts research are no doubt familiar with the team's focus on relative strength. They are often comparing sectors against each other to uncover where hidden strength (or weakness) is hiding out. It's one thing to see how a stock or a sector is performing on absolute -- dollar and cents -- terms. But seeing how investors favor one sector versus another offers important insight into how the marketplace is perceiving risk and opportunity.

This analysis often forms the bedrock of our best discoveries.

I usually enter new trades on Monday. I love starting the week with fresh opportunities.

But one of the best things about trading is there are no called strikes. Meaning, we don't have to swing. And we won't get called out for putting our bat on our shoulder and waiting for our favorite pitch to take a swing at.

This is on my mind today as I scan the list of trade ideas published by the All Star Charts team.

I have fond memories of my very first cellular phone in 1995. I was still in college and had a "job" selling advertising for the local arts & entertainment newspaper in town. One of the perks of the job was having a cellphone so I could be reached at any time.

In 1995, having a flip phone (that barely fit in my pocket), was pretty cool. Or at least I thought I was...

I'm headed down this nostalgic lane thanks to today's trade idea.

The latest Young Aristocrats research piece is out and a trade idea that immediately caught my eye is one that is currently breaking through the proverbial glass ceiling.

This manufacturer of glass and fiberclass products is finally breaking out of a 3-year base.

Check this chart of Owens Corning $OC:

During our latest Options Conference call, me and JC riffed on a couple potential trades -- one of which I wanted to wait a bit on, since it's not a type of play I do with great frequency.

Well, on Friday, the stock had a nice little pullback nearer to recent IPO support which offers us a nice opportunity to get positioned at a bit of a discount, so I'm going to pull the trigger today.

JC and I recorded our latest options conference call last night (subscribers can access it here). We discussed some trades that were exited last month, updated some current positions, and discussed a couple new ideas.

One of the new ideas discussed was a bullish breakout in United Therapeutics $UTHR. And I'm ready to pull the trigger today.

Hey everyone -

JC and I put together this months Options Conference call and it was one of my favorites yet!

We discussed positions we closed out in Google in Biotechs, as well as some of the trades we have on that are worth an update. There are a few new ideas on our radar and we get into some of that as well so you can get a little bit of a behind the scenes look at our thought process.

Enjoy!