On a mixed day in the market stocks like MGIC (MTG), Radian Group (RDN), MBIA (MBI), Ambac Financial (ABK) and PMI Group (PMI) rallied. These stocks were beaten down during the housing and financial crisis the past 8 months but could possibly be heading for a rebound.

There was a tremendous amount of Call volume today with Procter & Gamble (PG).

Today we saw quite a bit of Put volume for Herbalife Ltd. in both the month of April and the month of May. Strike prices of 40 and 45 were the active Put prices with 2066 April 40 Puts being traded and 3230 April 45 Puts trading hands.

Fertilizer producers and distributors are in a very real bull market trend at this time as one of the only industries to thrive in the current environment.

Something happened this week that is significant. Not only was there positive action from the Federal Reserve and the markets moved higher in reaction to that action. But all three major indexes showed a buy signal for the first time this year.

Citigroup ( C ) and Carnival (CCL) have both been a part of the recent market rally but today presents some caution as there have been some large put positions purchased in both.

Nonmetallic Mineral Mining, Independent Oil & Gas, Specialty Chemicals, Aluminum, Agricultural Chemicals, Industrial Metals/Mineral

The SPDRs Strangle of selling a SPY March 140 Call and also selling a SPY March 129 Put has had a nice performance of a two day period.

Selling both the Call and the Put kicks in the time value of the options which is decreasing rapidly as the expiration approaches.

Who would have thought 4 months ago that the Chinese market would pull back as radically as it has in such a short amount of time?