NEW DIRECTIONAL CALL PLAYS
Viacom, Inc. - VIAB - close: 84.65 change: +0.79
Stop Loss: 82.75
Current Option Gain/Loss: Unopened
Time Frame: exit PRIOR to earnings on November 14th.
New Positions: Yes, see below
Why We Like It:
Right now entertainment and content companies have been showing strength. VIAB is one of them with the stock trading near all-time highs today. VIAB has a long-term bullish trend of higher lows and higher highs. The last few weeks have seen shares consolidate sideways in the $80-85 zone. Now VIAB is poised for a breakout.
The September 27th intraday high was $85.22. I am suggesting a trigger to buy calls at $85.30. If triggered our target is $89.50. However, we will plan to exit prior to VIAB's earnings report in mid November.
Trigger @ 85.30
- Suggested Positions -
Buy the DEC $85 call (VIAB1322L85) current ask $2.80
Entry on October -- at $---.--
Average Daily Volume = 2.6 million
Listed on October 22, 2013