Option Investor
New Plays

New Option Plays

Printer friendly version
Call Options Plays
Put Options Plays
Strangle Options Plays
ITRI None None

New Calls

Itron Inc. - ITRI - close: 100.92 change: +0.79 stop: 98.45

Company Description:
Itron Inc. is a leading technology provider to the global energy and water industries. Itron Inc. consists of Itron in North America and Actaris outside of North America. Our company is the worlds leading provider of metering, data collection and utility software solutions, with nearly 8,000 utilities worldwide relying on our technology to optimize the delivery and use of energy and water. Our products include electricity, gas and water meters, data collection and communication systems, including automated meter reading (AMR) and advanced metering infrastructure (AMI); meter data management and related software applications; as well as project management, installation, and consulting services. (source: company press release or website)

Why We Like It:
I mentioned ITRI in my play editor's note on Tuesday night as a possible bullish candidate. The stock displayed relative strength on Wednesday and bounced back from its intraday lows right to previous resistance near $101. Volume has been pretty light on the recent rally and that does concern us but we're also in the slowest time of year (late summer) for stocks and thus volume. We want to see a bullish breakout higher before initiating positions so we're suggesting a trigger to buy calls at $101.50. There is potential resistance near $106 at the April 2008 highs. We're setting two targets. If triggered at 101.50 our first target is $105.75. Our second target is $109.90. We strongly suggest you take some money off the table at the first target.

Suggested Options:
We are suggesting the September calls although the Novembers would also work just as well. Our trigger is $101.50. We don't see any Sep. $110 calls available yet.

BUY CALL SEP 100.00 IUP-IT open interest=215 current ask $5.60
BUY CALL SEP 105.00 IUP-IA open interest= 24 current ask $3.20

Picked on August xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/30/08 (unconfirmed)
Average Daily Volume = 616 thousand

New Puts

None today.

New Strangles

None today.

New Play Archives