Instead of celebrating greatness this morning over a pile of victories, I am watching the e-mails stack up in regards to the debacle over H&R Block. Stop it.

In case you missed the trade, here is a recap below...

I bought H&R Block (HRB) puts. A lot of them. July 20's @ $0.65. This stock will break hard, and I am anticipating that break right here. Watch the news.

Target price: $19.50

Time Target: Around 2 weeks at the most.

Note: That volume is Sick.

H&R Block happened to trade as low as $20.40 in anticipation of this event, and the July 20 puts traded as high as $1.25. In fact, towards the close of business on the date of purchase, I recommended taking profits on half the position (@$1.10) and letting the rest run over earnings. Taking profits after a 100% return is not a bad idea, especially with earnings around the corner. As we are all aware, holding a position over an earnings announcement is a pure gamble, and not something you should do with an inappropriate position size. Those who haven't learned this lesson probably figured this out today. There is never a risk worth taking that involves taking a bigger position than you should be taking.

Don't worry. Once HRB makes its way below $22, then it will get to $21 in a hurry. I am leaving my position on, and will probably make back a portion of the loss, but doubt it will get back above my purchase price ($0.65).

Now if we can please move forward, why don't we talk about the winners?

Anything Agriculture?

Anything Coal

Calls...

CLF: +9%

ATW: +4.6%

GMXR: +7.5%

CHK: +4.6%

SFY: +6.1%

ANR: +3.3%

BTU: +3.6%

ENER: +3.4%

CRK: +4.5%

Puts...

XL: -7.7%

CMG: -5.7%

PENN: -2.3%

SHLD: -2.3%

FAST: -2.4%

ICE: -2.7%

OMG: -2.9%

TIF: -2.8%

In fact, I am known among my critics as the guy who likes to focus on the positive. That's just how I roll. Hopefully some of these winners are helping to make the HRB mess this morning easier to cope with.