Friday Chart Trade Ideas – $YELP $WFM $DDD

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





Known 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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