We hold 200 shares (or a multiple thereof) with an effective cost basis of 27.47, as well as two June 40-42 call spreads acquired months ago whose cost basis after some earlier profit taking has been reduced to zero.  Do nothing further for now, but be aware that yesterday’s impressive-looking surge was barely impulsive on the hourly chart.  A pop above 30.65 would somewhat change that, putting the Bad Guys on the defensive, perhaps, as we head toward the weekend. _______ UPDATE (May 7, 11:22 p.m.): It looks as though the stock will be unable to avoid falling to the 26.79 target shown in the chart.  Since I’d be a buyer down at that level anyway, there’s no compelling reason to blow out our position in expectations of establishing a better price.  The pain amounts to $140 or so for our position, so we’ll just grin and bear it. Heads-up play would entail shorting call premium at the bell, but this stock frequently opens so viciously that I won’t presume to be able to offer you a strategy that would cover all contingencies. _______ FURTHER UPDATE (May 9, 12:24 a.m.):  I can see no way to win this morning. Officially, I’ll recommend exiting the stock if it trades 26.08 or lower.  It seems a foregone conclusion that SLW will open on a nasty gap, followed by a treacherously steep rally.  And then? Who knows? (There will be no guesswork about it, however, if you are monitoring the stock’s impulsiveness on a 3-minute chart.)  Exiting with a loss would be due to inattentiveness on my part — and would be absolutely inexcusable, since we had a fat profit following a beautifully timed entry.  We will make up the loss if one should occur, I promise, but as a reminder of what the stock is capable of, we’ll add any loss sustained today to the cost basis of our next purchase (or short). _______ FINAL UPDATE (9:56 a.m. EDT):  We exited the stock at 25.91 for a trading loss of $312.  Miraculously, that was not the low of the day. Now, the stock is vulnerable to a further fall to 23.70 (weekly chart, A=42.50 on 9/23); or even to 18.60 (A=47.60 on 4/8).