It's the day after Christmas, what better time to be taking advantage of some nice chart set ups before everyone returns after the holiday.
Here are some charts setting up for a trade and what I aim to do with each.
$DDD continues to work higher off long term support. I think a move back to $40+ is coming in early 2015.
Trade I am looking for:
January Monthly $33 calls $1.00
$YELP recently hit trendline springboard at $50, marking it's 3rd touch and bounce. The previous two tests have seen the stock rally well over 50%. I'm looking at a possible similar move short term.
January Monthly $55 calls $1.40
I think $WFM is going to drop back to $37.50 from current levels and possibly move significantly lower from there. My only concern trading short term options is that this could take a while. Earlier this year when $WFM was at $36, I said the stock would hit $50 this year. It hit $49.50. I now think it hits $37 and less in early 2015, with this head and shoulders long term topping pattern.
January Monthly $48 puts $.70