Add ULTA Calls

Extending the Upside

By Bryan Bottarelli
Monday, October 10, 2011 2:27 AM EDT
Mon, 10 Oct 2011 06:27:00 GMT

PLAY: Buy the ULTA October 70 Calls (O:ULTA 11J70.00) at or under $2.35 (or best price), good for the day. Place a protective stop limit at $1.20 and a pre-determined sniper sell at $4.00.

Dear Bottarelli Research Member,

In addition to the ESI trade, let’s also make a light move into ULTA. For all of today’s session, ULTA has maintained support at the $68.50 level. Therefore, let’s lightly add October calls now and if we see another dip we can always add. That way, we can continue playing this upside market should the gains extend into the afternoon or even tomorrow. With that in mind, here’s the play…

PLAY: Buy the ULTA October 70 Calls (O:ULTA 11J70.00) at or under $2.35 (or best price), good for the day. Place a protective stop limit at $1.20 and a pre-determined sniper sell at $4.00.

Lock and load!

Sincerely,

Bryan Bottarelli
Editor, Bottarelli Research
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