Target presumably has been bound for a potential major top at 56.26 since last July, when it embarked on a follow-through rally on the heels of an impulsive, 80% gain last spring.  I’ll recommend bidding for four May 56 puts if and when the stock reaches 56.10, but stay tuned for updates, since it may be possible to hone our bid price down to a fine science when the Hidden Pivot is closely approached. ______ UPDATE: Ha-ha the joke’s on us there are no May 56 puts.  Instead, let’s try to buy two May 55 puts for 1.31.  They’ve traded as low as 1.29 and are currently offered at 1.36 off a rapaciously wide spread of 1.29-1.36.