NEW DIRECTIONAL PUT PLAYS
Monsanto Co. - MON - close: 95.28 change: +0.29
Stop Loss: 96.25
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
We are going to take another swing at MON. Last time our play didn't open.
The stock's oversold bounce has failed near resistance at the $98 level. Once again MON is hovering near its simple 300-dma and support near $95.00. So far the August low has been $94.56. We are suggesting a trigger to buy puts at $94.40. If triggered our short-term target is $90.25. More aggressive traders could certainly aim lower since the P&F chart is forecasting an $84 target.
Trigger @ 94.40
- Suggested Positions -
Buy the Sep $90 PUT (MON1321u90) current ask $0.73
Entry on August -- at $---.--
Average Daily Volume = 3.3 million
Listed on August 19, 2013