Buy Alert: August 19, 2014
Buy Alert: August 19, 2014
Trade Details
Buy O’Reilly Automotive (ORLY) September 20th 150 Puts for $1.50 or better
Why?
Auto parts retail giant ORLY is a decent company overall, but the share price has reached overvalued territory. First off, many of the company’s valuation metrics are on the high to very-high side. What’s more, the stock is finding significant resistance at $155, a key double-top level.
Moreover, with the high level of global turmoil, there’s always a danger of a renewed risk-off trade leading to a selloff. High priced stocks like ORLY are typically first to get hit.
Let’s grab the September 150 puts here.
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Category: OTW Buy Alerts
