We're headed into another monthly expiration cycle and its time to take some action on open positions with options expiring in March. Not going to sugar coat it -- March positions have been challenging!

Don't look now, but all-time highs are starting to pop up for some well known names. And after just completing the "hundred-dollar-roll," we've got an old classic offering us a cheap opportunity to play for some outsized relative gains.

A stock we've had our eyes on since early February made new all-time highs last week and is showing signs that its upcoming earnings report will offer us a nice catalyst for quick gains.

The real estate arena has been on a wild ride since early December. The sector (as measured by $IYR, US Real Estate ETF), tumbled more than 13% in less than four weeks, only to completely retrace the move in the next four weeks then continue trudging higher as if nothing happened. The move has been nothing short of astonishing. We've made our bet on a fade with $IYR, but to cover our bases, we've going to take a flier on an individual stock in the space that offers us a nice reward-to-risk opportunity and will hedge our sector risk, somewhat.

Another name in the cybersecurity space we've had our eye on the past couple weeks has offered us the pullback we were looking for to get involved. And there is an earnings event on the horizon that can act as a positive catalyst to drive our gains.

Many of the sectors which formed the most beautiful bases during the recent stock market correction reside in the medical devices, healthcare, and pharmaceuticals sectors. Stocks here didn't plunge as deep as most, they found firm footing quickly, and are now showing signs of moving higher again. One such play has us very interested from a risk versus potential reward standpoint.

Our boy Bruni did a deep dive into the Cybersecurity space recently and served up a bunch of names that are setting up well to lead the market higher. Importantly, earnings are on the horizon which offers both an opportunity for a positive catalyst, as well as the need to tread carefully if the sector disappoints. We've got a plan for that...

The third new trade we teased during our most recent All Star Options conference call has rewarded our patience, offering us a better entry point. And we're gonna lean into this one...

A leader during the last bull run appears to be setting itself up to resume its leadership once again. During our February All Star Options conference call, we laid out a patient play for participating in the next leg higher, should one materialize. We're ready to start jumping in.

This is the video recording of the February 2019 Conference Call for Members of All Star Options

We saw this tweet from our friend Josh and we totally agreed:

this move in REITs is slapstick comedy pic.twitter.com/6wtROUYeB9

— Downtown Josh Brown (@ReformedBroker) January 31, 2019

This move in $IYR (iShares US Real Estate ETF) is incredible, and we might go higher from here still. But I'm willing to bet a mild retracement will soon be at hand -- or at the very least we'll see a pause.

As the calendar turns to February, it is time to review our handful of open positions with Feb options that are nearing expiration and might require some attention.