I was looking at some charts Monday morning and came across Deckers Outdoor Corp (DECK)and noticed a large gap up with a high of $158.47 on Friday after their quarterly earnings report from a day earlier. I'm looking for a retracement back towards the 20-day MA and 8-day trigger, which is between the two red horizontal lines. The range of the lines is set between $133 and $144. In addition, the stochastics are approaching the overbought range, which provides a little bit of validity.I purchased 1 Jun 2010 put with a strike price of $145.00. I got in at $3.70 and today traded up at $5.40.
1 comment:
The bid on the put yesterday since DECK was down over $8.00 was
$10.50. Definitely pulled the trigger early and didn't trust my own analysis. The call was great if I do say so myself, but I got to stick with my pricing. Justin
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