NEW DIRECTIONAL CALL PLAYS
Gulfport Energy - GPOR - close: 66.45 change: +1.48
Stop Loss: 63.95
Current Option Gain/Loss: Unopened
Time Frame: exit PRIOR to GPOR's earnings in November
New Positions: Yes, see below
Why We Like It:
GPOR is an energy company. They are involved in both the exploration and production of oil and natural gas properties.
GPOR's latest earnings report back in August produced a big beat on both the top and bottom line. Shares actually sold off on its Q2 report but quickly recovered. GPOR's Q2 results sparked several bullish analyst comments and recommendations. Since then GPOR has rallied to a series of new all-time, record highs.
The last three weeks of September saw GPOR consolidating gains in the $60-65 zone. We just saw the stock breakout past resistance near $65 a few days ago. Traders bought the dip at new support (prior resistance) today.
The intraday high for GPOR is $67.00. I am suggesting a trigger to buy calls at $67.10. If triggered our target is $72.50. However, we need to keep in mind that the $70.00 level could prove to be round-number, psychological resistance.
Trigger @ 67.10
- Suggested Positions -
buy the NOV $70 call (GPOR1316K70) current ask $2.55
Entry on October -- at $---.--
Average Daily Volume = 1.4 million
Listed on October 03, 2013