In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Some of these stocks may need to see a break past key support or resistance:
MMM, SPW, HSY, IR, LL, OSIS, VRSN, CF, LLL, BWA, ATK, BEAV, HON,
NEW DIRECTIONAL CALL PLAYS
Red Robin Gourmet Burgers - RRGB - close: 69.62 change: +0.84
Stop Loss: 67.90
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
RRGB runs a casual-dining burger chain with 480 locations.
The last few months have actually seen bearish sales data for the restaurant group as an industry. Yet RRGB seems to be outpacing its competition. Shares exploded higher following its earnings report in mid August. Since then the stock has consolidating sideways with very little profit taking. It would appear that investors remain optimistic about RRGB's performance with this stock at a new all-time closing high today.
I am suggesting a trigger to buy calls at $70.25. More conservative traders may want to wait for RRGB to trade above the September 12th high of $70.67 before initiating positions. If we are triggered our target is $74.75.
Trigger @ 70.25
- Suggested Positions -
Buy the Oct $70 call (RRGB1319j70) current ask $1.95
Entry on September -- at $---.--
Average Daily Volume = 126 thousand
Listed on September 17, 2013