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    <nameOfIssuer>ACCENTURE LTD- CL.A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>g1151c101</cusip>
    <value>3407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ALPHABET INC-CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079k305</cusip>
    <value>1828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2350</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ALPHABET INC-CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079k305</cusip>
    <value>2412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMAZON  COM INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>3515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMERICAN EAGLE OUTFITTERS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02553e106</cusip>
    <value>2530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>163200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ANADARKO PETROLEUM CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032511107</cusip>
    <value>204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARAMARK</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03852u106</cusip>
    <value>5593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>173420</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COACH, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>189754104</cusip>
    <value>3512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>107300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONCHO RESOURCES, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20605p101</cusip>
    <value>446</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONN'S INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>208242107</cusip>
    <value>2018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>86000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONSTELLATION BRANDS, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>21036p108</cusip>
    <value>2421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEVRY, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>251893103</cusip>
    <value>1544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>61000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>DOMINION RESOURCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25746u109</cusip>
    <value>1116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16495</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16495</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>EOG RESOURCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26875p101</cusip>
    <value>262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXPRESS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30219e103</cusip>
    <value>1932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>111800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>FACEBOOK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30303m102</cusip>
    <value>6406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>61210</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FACEBOOK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30303m102</cusip>
    <value>10204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>97500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FOOT LOCKER INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>344849104</cusip>
    <value>6068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>93220</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FOOT LOCKER INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>344849104</cusip>
    <value>5461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>83900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN RES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>354613101</cusip>
    <value>2209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>GENERAL DYNAMICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>369550108</cusip>
    <value>1264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL ELECTRIC CO.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>369604103</cusip>
    <value>8545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>274315</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>274315</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL MILLS, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>370334104</cusip>
    <value>3865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>67030</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HARLEY-DAVIDSON, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>412822108</cusip>
    <value>2061</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>45400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HASBRO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>418056107</cusip>
    <value>2620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>38900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HASBRO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>418056107</cusip>
    <value>3806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>56500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HDFC BANK LTD-ADR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40415f101</cusip>
    <value>2606</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOME DEPOT INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>437076102</cusip>
    <value>5082</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>38425</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HONEYWELL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>438516106</cusip>
    <value>5166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49875</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>49875</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI MEXICO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464286822</cusip>
    <value>787</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TIPS BOND ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287176</cusip>
    <value>1046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9538</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9538</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KATE SPADE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>485865109</cusip>
    <value>2646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>148900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KROGER COMPANY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>501044101</cusip>
    <value>5422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>129610</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LINKEDIN CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53578a108</cusip>
    <value>1891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOCKHEED MARTIN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>539830109</cusip>
    <value>5350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24639</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24639</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOWES COMPANIES, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>548661107</cusip>
    <value>2296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MANHATTAN ASSOCIATES INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>562750109</cusip>
    <value>2541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>38400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MASCO CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>574599106</cusip>
    <value>3331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>117700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MASCO CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>574599106</cusip>
    <value>3085</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>109000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MCDONALD'S CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>580135101</cusip>
    <value>4808</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40700</Sole>
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      <None>0</None>
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    <nameOfIssuer>MICHAEL KORS HOLDINGS LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>g60754101</cusip>
    <value>1707</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>8123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146405</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>146405</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>9071</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>163500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MOHAWK INDUSTRIES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>608190104</cusip>
    <value>1212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MONDELEZ INT'L, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>609207105</cusip>
    <value>3838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85600</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>85600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NATIONAL FUEL GAS CO.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>636180101</cusip>
    <value>201</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NEWELL COMPANY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>651229106</cusip>
    <value>4708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>106800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEWFIELD EXPLORATION CO.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>651290108</cusip>
    <value>368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEXTERA ENERGY, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>65339f101</cusip>
    <value>277</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2663</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2663</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NIKE INC CL B</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>654106103</cusip>
    <value>612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NORFOLK SOUTHERN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>655844108</cusip>
    <value>3891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>46000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NORTHROP GRUMMAN CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>666807102</cusip>
    <value>2624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>PIONEER NATURAL RESOURCES</nameOfIssuer>
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    <cusip>723787107</cusip>
    <value>489</value>
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      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>PIONEER NATURAL RESOURCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>723787107</cusip>
    <value>3573</value>
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      <sshPrnamt>28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>RAYTHEON CO.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>755111507</cusip>
    <value>5357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43015</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43015</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>REPUBLIC SERVICES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>760759100</cusip>
    <value>2604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>59200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>SKECHERS USA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>830566105</cusip>
    <value>3689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>122100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SKECHERS USA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>830566105</cusip>
    <value>4335</value>
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      <sshPrnamt>143500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>143500</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SOUTHERN CO COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>842587107</cusip>
    <value>8596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>183725</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>183725</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STARBUCKS CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855244109</cusip>
    <value>6323</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105330</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>105330</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TARGET CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87612e106</cusip>
    <value>1147</value>
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      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TARGET CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87612e106</cusip>
    <value>4538</value>
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      <sshPrnamt>62500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>62500</Sole>
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      <None>0</None>
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    <nameOfIssuer>THE FRESH MARKET, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>35804h106</cusip>
    <value>5232</value>
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      <sshPrnamt>223400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>223400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>THE KRAFT HEINZ CO.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>500754106</cusip>
    <value>3197</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43935</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRANSOCEAN LTD.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>h8817h100</cusip>
    <value>3169</value>
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      <sshPrnamt>256000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>256000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TRANSOCEAN LTD.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>2190</value>
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      <sshPrnamt>176900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>176900</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  </infoTable>
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    <nameOfIssuer>VIRTU FINANCIAL, INC.-A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>928254101</cusip>
    <value>500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22100</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>VULCAN MATERIALS CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>929160109</cusip>
    <value>4093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43100</Sole>
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      <None>0</None>
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    <nameOfIssuer>WALT DISNEY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>2820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26837</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26837</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WASTE MANAGEMENT INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>94106l109</cusip>
    <value>7033</value>
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      <sshPrnamt>131780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>131780</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WASTE MANAGEMENT INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>13289</value>
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      <sshPrnamt>249000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>249000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WASTE MANAGEMENT INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>94106l109</cusip>
    <value>11234</value>
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      <sshPrnamt>210500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>210500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>WHOLE FOODS MARKET, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>966837106</cusip>
    <value>4104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
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    <votingAuthority>
      <Sole>122500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WISCONSIN ENERGY CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>976657106</cusip>
    <value>299</value>
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      <sshPrnamt>5835</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5835</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ZILLOW GROUP, INC.- CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98954m101</cusip>
    <value>2890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>111000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ZILLOW GROUP, INC.- CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98954m101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>132800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>132800</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ZILLOW GROUP, INC.- CL C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98954m200</cusip>
    <value>812</value>
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      <sshPrnamt>34600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>34600</Sole>
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      <None>0</None>
    </votingAuthority>
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</informationTable>
