NEW BEARISH Plays

Check Point Software - CHKP - close: 44.82 change: -0.38

Stop Loss: 45.51
Target(s): 40.50
Current Gain/Loss: unopened

Entry on April -- at $--.--
Listed on April 24, 2013
Time Frame: 3 to 6 weeks
Average Daily Volume = 2.5 million
New Positions: Yes, see below

Company Description

Why We Like It:
CHKP reported earnings a couple of days ago. The company beat Wall Street's estimates by one cent at $0.79 a share but missed the revenue number. Traders sold the post-earnings pop and now CHKP has resumed its down trend. The stock is in jeopardy of breaking down below support near $45.00. The April low was $44.41.

I am suggesting a trigger to launch bearish positions at $44.30 If triggered our target is $40.50.

Trigger @ 44.30

Suggested Position: short CHKP stock @ (trigger)

- (or for more adventurous traders, try this option) -

buy the June $45 PUT (CHKP1322R45) current ask $1.85

Annotated chart: