NEW DIRECTIONAL CALL PLAYS
Raytheon Co. - RTN - close: 100.96 change: +0.87
Stop Loss: 98.40
Target(s): to be determined
Current Option Gain/Loss: Unopened
Time Frame: 4 to 5 weeks
New Positions: Yes, see below
Why We Like It:
RTN is in the industrial goods sector. The company is part of the defense industry. The defense stocks, as a group, have continued to maintain their bullish trend and RTN is one of the stronger stocks in the group. Traders were buying the dip near $98 and its 20-dma.
Tonight we are suggesting a trigger to buy calls at $101.25. More conservative traders may want to wait for a new high above $102.15 before initiating positions.
We will start this play with a stop loss at $98.40. I'm not setting an exit target yet but it will probably be in the $107-110 zone.
Trigger @ 101.25
- Suggested Positions -
Buy the APR $100 call (RTN1419D100) current ask $2.64
Entry on March -- at $---.--
Average Daily Volume = 1.9 million
Listed on March 17, 2014