NEW DIRECTIONAL CALL PLAYS

Stericycle Inc. - SRCL - close: 81.78 chane: +1.32

Stop Loss: 79.40
Target(s): 84.75, 89.00
Current Option Gain/Loss: Unopened
Time Frame: 4 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
SRCL has been consolidating under resistance near $80.00 for the last couple of weeks. The stock just broke out to new all-time highs today. I am suggesting we wait for a dip and buy calls at $80.75. If triggered we'll use a stop loss at $79.40. Our targets are $84.75 and $89.00.

Trigger @ 80.75

- Suggested Position -

Buy the 2011 February $85 calls (SRCL1119B85) current ask $1.25

Annotated Chart:

Entry on December xxth at $ xx.xx
Earnings Date 02/03/11 (unconfirmed)
Average Daily Volume = 543 thousand
Listed on December 29th, 2010