FOSL fell post earnings report. Its meandered in a range and options premium has cooled after the big drop. The stock sits at some serious multi-year support. I think there is no better time to play for a bounce. It is a simple trade, we break support, head for the hills, we stay above support we could get a 5-10% move higher. This is what happened each time this old Fossil has hit support. Let’s see if it happens again.
I have the $80 may calls at $1 and the $85 may calls at $.20.
You could move out to next month with the $85 calls for June going for $2 and the $90 calls going for $1.
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