Compression Breakout in BHI

This topic has 1 reply, 1 voice, and was last updated 8 years, 11 months ago by Steven Place.

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June 2, 2014 at 8:36 am #2448

Steven Place
Keymaster

After a nice gap higher, the stock has done nothing for two months. With the strength in the oil space, this name is ready to run.

Here’s the trade:

Buy to open BHI Jul 72.5 calls for 1.65 or lower.

Stops at 69.47.

June 9, 2014 at 8:41 am #2449

Steven Place
Keymaster

It has broken out, and it’s in the second day of its breakout with probably some more upside… but it is also extended on a short term basis.

Sell 1/2 Jul 72.50 calls @2.25
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