Buy Alert: February 11, 2014
Buy Alert: February 11, 2014
Trade Details
Buy McKesson (MCK) March $165 Puts for $1.80 or better
Why?
The market has recovered nicely over the past couple days – and it gives us a nice opportunity to add another put to our portfolio.
MCK, a massive health care/medical supply company, is trading above the 20-day, 50-day, and 200-day moving averages. In fact, it’s nearly 30% higher than the 200-day line. The stock has also recently hit a double-top, so there’s major resistance just above the current price.
What’s more, the MCK’s earnings fell last quarter and the company lowered guidance. With negative fundamentals and technicals, it’s a perfect time to take a bearish position on the stock.
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Category: OTW Buy Alerts
