NEW DIRECTIONAL CALL PLAYS
Apollo Group - APOL - close: 73.47 change: -0.03 stop: 72.70
Why We Like It:
APOL is an education stock with a bullish pattern of higher lows. Shares are building up steam for a breakout over resistance at $75.00. I'm suggesting a trigger to buy calls at $75.25. If triggered our first target is $79.90. This should be a short-term play as we plan to exit ahead of the October 27th earnings report. FYI: The Point & Figure chart is bullish with a $95 target.
I am suggesting the November calls but we'll exit ahead of the late October earnings. My preference is the November $80 strike.
BUY CALL NOV 80.00 OAQ-KP open interest=3334 current ask $1.90
Picked on October xx at $ xx.xx <-- TRIGGER @ 75.25
Change since picked: + 0.00
Earnings Date 10/27/09 (unconfirmed)
Average Daily Volume = 2.6 million
Listed on October 13, 2009