Option Investor
New Plays

New Option Plays

HAVING TROUBLE PRINTING?
Printer friendly version
Call Options Plays
Put Options Plays
Strangle Options Plays
None MTD None

New Calls

None today.
 

New Puts

Mettler Toledo - MTD - cls: 97.57 chg: -0.82 stop: 99.11

Company Description:
METTLER TOLEDO is a leading global supplier of precision instruments and services. The Company is the world's largest manufacturer and marketer of weighing instruments for use in laboratory, industrial and food retailing applications. (source: company press release or website)

Why We Like It:
The bullish trend in MTD appears to be in trouble. Momentum has stalled and the stock has been stuck in a trading range since late April. Currently MTD looks poised to breakdown under support near $97.00. We're suggesting a trigger to buy puts at $96.75. There is potential support at the bottom of the gap from late April so more conservative traders may want to wait for a decline under $95.00 before initiating positions. Our target is the $90.50-90.00 range. Traders will also need to keep an eye on the 100-dma, near $92.60, as possible support. FYI: The P&F chart is still very bullish and won't turn bearish until MTD trades under $96.00.

Suggested Options:
We are suggesting the July or October puts. August strikes would work but they just became available today and there is no open interest.

BUY PUT JUL 100.0 MTD-ST open interest=33 current ask $3.70
BUY PUT JUL 95.00 MTD-SS open interest=10 current ask $1.30

or

BUY PUT OCT 100.0 MTD-VT open interest= 1 current ask $5.50
BUY PUT OCT 95.00 MTD-VS open interest=20 current ask $3.30

Picked on June xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/26/07 (unconfirmed)
Average Daily Volume = 215 thousand
 

New Strangles

None today.
 

New Play Archives