We hold 300 shares with a 42.01 basis against three June 40 puts @ 2.35.  A 36.35 target that at times seemed so improbable has served us well. Now, let it provide a benchmark for shorting May 38 puts.  If the stock gets within 15 cents of the target, sell three of them against the puts we are long, day order. _______ UPDATE (11:53 a.m. EDT):  The longstanding target at 36.35 caught this morning’s low within a penny, allowing us to short May 38 puts puts for as much as 2.85.  That means we have effectively legged into a $2 vertical put calendar spread for a net CREDIT of 0.50 (!).  Do nothing further for now, but if you bought stock near the intraday low, I’d suggest taking profits on half of it, since SLW has rallied $1.36 off the low.  That way, even if the stock relapses in a nasty way, as will always be possible, you can still come away with a profit.