Editor's Note:

In addition to tonight's new candidate, consider these stocks as possible trading ideas and watch list candidates. Many of these need to see a break past key support or resistance:

(bullish ideas) ROP, SNA, OXY, SHW, PH, AGU, XOM, GTLS, TWC, WPI, UTX, ASH, BWA, FFIV, AMGN, CYT, CVX, MMM, MOS, ADP



NEW DIRECTIONAL CALL PLAYS

SBA Communications - SBAC - close: 60.41 change: +0.12

Stop Loss: 57.75
Target(s): 64.90
Current Option Gain/Loss: Unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
SBAC owns thousands of wireless communications towers across North and Central America. The stock appears to be in a new long-term up trend. On a short-term basis SBAC has been consolidating sideways near potential round-number resistance at $60.00 but just set a new closing high on Friday.

We want to play the trend. I am suggesting a trigger to buy calls at $60.75 with a stop loss at $57.75. Our multi-week target is $64.90. We might need some patience on this one. SBAC doesn't move super fast. FYI: The Point & Figure chart for SBAC is bullish with a long-term $100 target.

Trigger @ 60.75

- Suggested Positions -

buy the Sep $60 call (SBAC1222i60) current ask $1.75

- or -

buy the Dec $65 call (SBAC1222L65) current ask $1.20

Annotated Chart:

Entry on August xx at $ xx.xx
Average Daily Volume = 1.5 million
Listed on August 11, 2012


NEW DIRECTIONAL PUT PLAYS

O'Reilly Automotive - ORLY - close: 84.62 change: -0.38

Stop Loss: 84.75
Target(s): 80.25
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
ORLY plunged back in late June after guiding its same-store sales numbers lower. The stock produced a dramatic rebound back only to reverse lower once it had filled the gap. Now ORLY is in a bearish trend of lower highs. Shares look poised to breakdown under short-term support near $84.00.

I am suggesting a trigger to launch bearish positions at $83.75. Our first target is $80.25. More aggressive traders may want to aim lower. FYI: The Point & Figure chart for ORLY is bearish with a long-term $48 target.

Trigger @ 83.75

- Suggested Positions -

buy the Sept $80 PUT (ORLY1222u80) current ask $1.75

Annotated Chart:

Entry on August xx at $ xx.xx
Average Daily Volume = 1.5 million
Listed on August 11, 2012