Editor's Note:

Traders may want to limit any new positions and keep their position size small. The EU summit Thursday-Friday this week is unlikely to solve anything, which could spark additional selling pressure across the global markets.


NEW DIRECTIONAL CALL PLAYS

American Tower Corp. - AMT - close: 69.63 change: +1.08

Stop Loss: 67.40
Target(s): 74.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
AMT is an REIT that is focused on wireless and broadcast communication infrastructure. The stock has managed to shrug off most of the market's weakness and shares of are now testing all-time highs at resistance near $70.00.

I am suggesting a trigger to buy calls at $70.25. We'll use a stop loss at $67.40. Our target is $74.50.

Trigger @ 70.25

- Suggested Positions -

Buy the Aug $70 call (AMT1218H70) current ask $1.95

Annotated Chart:

Entry on June xx at $ xx.xx
Earnings Date 08/02/12 (unconfirmed)
Average Daily Volume = 2.3 million
Listed on June 27, 2012


Boston Beer Co. - SAM - close: 119.01 change: +1.64

Stop Loss: 117.2
Target(s): 127.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Shares of SAM are poised for a short squeeze. The most recent data listed short interest at 43% of the very, very small 8.3 million share float. The shorts have got to be dying here. SAM has reported three strong quarter of earnings growth. Now shares are near record highs set a few days ago.

The $120 level looks like round-number resistance. I am suggesting a trigger to buy calls at $120.25. If triggered we'll use a stop loss at $117.25. Our target is $127.50.

Trigger @ 120.25

- Suggested Positions -

buy the Aug $125 call (SAM1218H125) current ask $3.20

Annotated Chart:

Entry on June xx at $ xx.xx
Earnings Date 08/02/12 (unconfirmed)
Average Daily Volume = 117 million
Listed on June 27, 2012