NEW DIRECTIONAL CALL PLAYS
PetSmart, Inc. - PETM - close: 69.54 change: +0.08
Stop Loss: 67.75
Current Option Gain/Loss: Unopened
Time Frame: exit prior to the mid August earnings report
New Positions: Yes, see below
Why We Like It:
PETM is a specialty retailer for pets. The stock has a very strong bullish trend of higher lows. Shares look poised to breakout past resistance near $70.00 soon. This would be a new all-time, record high for the stock.
I am suggesting a trigger to buy calls at $70.25. Our target is $74.75.
Trigger @ 70.25
- Suggested Positions -
Buy the Aug $70 call (PETM1218H70) current ask $2.40
Entry on July xx at $ xx.xx
Earnings Date 08/15/12 (unconfirmed)
Average Daily Volume = 1.0 million
Listed on July 18, 2012