NEW DIRECTIONAL CALL PLAYS
SPX Corp. - SPW - close: 73.31 change: +1.08
Stop Loss: 69.90
Target(s): 77.40, 79.90
Current Option Gain/Loss: +0.0%
Time Frame: 4 to 6 weeks
New Positions: Yes
Why We Like It:
We're going to try again with a bullish play on SPW. This time shares have finally broken out past resistance in the $72.00-72.50 zone after weeks of consolidating sideways. I do consider this an aggressive trade so we want to keep our position size pretty small. I'm suggesting a stop loss at $69.90. More conservative traders may want to use a stop closer to $71.00 instead. Our upside targets are $77.40 and $79.90.
The Point & Figure chart for SPW is bullish with a $92 target.
Open small bullish positions now.
- Suggested Positions -
Buy the 2011 February 75.00 calls (SPW1119B75) current ask $1.95
Entry on January 11th at $ xx.xx
Earnings Date 02/24/11 (unconfirmed)
Average Daily Volume = 396 thousand
Listed on January 10th, 2010