NEW DIRECTIONAL PUT PLAYS
Dow Jones Transportation ETF - IYT - close: 105.87 chg: -1.62
Stop Loss: 107.05
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
Worries about a global growth slowdown have sparked selling pressure in the transportation sector. The IYT is the iShares transportation ETF. The IYT peaked in mid March. Now the ETF is creating a new bearish trend of lower highs. Shares are currently hovering near support in the $105.00 area.
I am suggesting a trigger to buy puts at $104.75. If triggered our target is $100.25.
Trigger @ 104.75
- Suggested Positions -
buy the May $105 PUT (IYT1318Q105) current ask $2.20
Entry on April -- at $---.--
Average Daily Volume = 904 thousand
Listed on April 17 2013