PetSmart, Inc. - PETM - close: 69.54 change: +0.08

Stop Loss: 67.75
Target(s): 74.75
Current Option Gain/Loss: Unopened
Time Frame: exit prior to the mid August earnings report
New Positions: Yes, see below

Company Description

Why We Like It:
PETM is a specialty retailer for pets. The stock has a very strong bullish trend of higher lows. Shares look poised to breakout past resistance near $70.00 soon. This would be a new all-time, record high for the stock.

I am suggesting a trigger to buy calls at $70.25. Our target is $74.75.

Trigger @ 70.25

- Suggested Positions -

Buy the Aug $70 call (PETM1218H70) current ask $2.40

Annotated Chart:

Entry on July xx at $ xx.xx
Earnings Date 08/15/12 (unconfirmed)
Average Daily Volume = 1.0 million
Listed on July 18, 2012