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New Option Plays

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GLD None None

Play Editor's Note: I'm adding GLD as a short-term call play. There are also a few bearish candidates I would consider:

AAPL: AAPL has rolled over after filling the gap. I would consider buying puts here with stop loss around $166.50 and a target near $150. More aggressive traders could aim for $146.

ATK: The bounce in ATK failed at the top of its bearish channel. I would consider buying puts here with a stop loss above today's high. Aim for $95.00 or the bottom of its channel.

SPWR: SPWR and the solar stocks are looking weak. I would consider puts right here with a stop loss above $74 or $75. Aim for the $65 or $60 regions.

New Calls

SPDR Gold Shares - GLD - cls: 91.33 chg: +0.76 stop: 89.95

Company Description:
The SPDR Gold Shares is an exchange traded fund (ETF) that mimics the price of gold bullion.

Why We Like It:
Gold looks a little short-term oversold in just the last couple of days and bulls bought the dip near $90.00 and its 50-dma. With the market's rolling over GLD might be seen as a "safe haven" play. We're suggesting a tight stop under $90 so if we're wrong we're taken out quickly. Our target is the $94.90 mark even though on the intraday chart is looks like resistance near the $94.00 level. More aggressive traders may want to aim higher.

Suggested Options:
We are suggesting the August calls.

BUY CALL AUG 90.00 GLD-HL open interest=1433 current ask $3.10
BUY CALL AUG 93.00 GLD-HO open interest=1529 current ask $1.65
BUY CALL AUG 95.00 GLD-HQ open interest=7563 current ask $1.10

Picked on July 24 at $ 91.33
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume = 12 million

New Puts

None today.

New Strangles

None today.

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