NEW BEARISH Plays
Check Point Software - CHKP - close: 44.82 change: -0.38
Stop Loss: 45.51
Current Gain/Loss: unopened
Entry on April -- at $--.--
Listed on April 24, 2013
Time Frame: 3 to 6 weeks
Average Daily Volume = 2.5 million
New Positions: Yes, see below
Why We Like It:
CHKP reported earnings a couple of days ago. The company beat Wall Street's estimates by one cent at $0.79 a share but missed the revenue number. Traders sold the post-earnings pop and now CHKP has resumed its down trend. The stock is in jeopardy of breaking down below support near $45.00. The April low was $44.41.
I am suggesting a trigger to launch bearish positions at $44.30 If triggered our target is $40.50.
Trigger @ 44.30
Suggested Position: short CHKP stock @ (trigger)
- (or for more adventurous traders, try this option) -
buy the June $45 PUT (CHKP1322R45) current ask $1.85