Subject: July 23, 2013 Trade Alert - Terry’s Trades Portfolio – LIMIT ORDER
July 23, 2013 Trade Alert - Terry’s Trades Portfolio – LIMIT ORDER
Starbucks seems to have unusually high expectations. The stock has rallied about 20% since the last announcement to a new high last week, whisper numbers are higher than estimates, and there has been some fairly significant insider selling over the past six months. This is a fairly safe trade that only starts losing money if the stock moves up by $2 or so:
BTO 10 SBUX Aug-13 72.5 calls (SBUX130817C72.5)
STO 10 SBUX Jul4-13 70 calls (SBUX130726C70) for a credit limit of $.41 (selling a diagonal)
Happy trading.
Terry
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