Description: Macy’s has the look of a stock that’s about to get a squeeze higher. I’m sure you can play it to the long side here on a breakout of 35, but I’m more interested in sticking with the longer term trend.
If it runs hard into 37.50, I’ll look for some short exposure. Currently the Aug 40/35 bear put spread is the weapon of choice, but if it takes a while to get to that level, we’ll push it out to september.