NEW DIRECTIONAL CALL PLAYS
Johnson & Johnson - JNJ - close: 94.86 change: +0.56
Stop Loss: 93.40
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below
Why We Like It:
JNJ is in the healthcare sector. They produced a very wide number of medical products, consumer products, medical devices and much more. Shares have been showing relative strength and did so again today with a +0.59% gain and a new all-time closing high. Today's move may have been boosted by news that JNJ has agreed to a $2.5 billion settlement over a hip-implant legal case. The settlement price was a lot smaller than many were expecting.
If JNJ can breakout past the $95.00 level the next logical spot for resistance is the $100.00 mark. I am suggesting a trigger to buy calls at $95.25. If triggered our multi-week target is $99.75.
Trigger @ 95.25
- Suggested Positions -
Buy the 2014 Jan $95 call (JNJ1418a95) current ask $1.37
Entry on November -- at $---.--
Average Daily Volume = 6.8 million
Listed on November 19, 2013