This Old Fossil (FOSL) Has A Pop Coming?

fosl514

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.

Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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