Buy Alert: May 23, 2014
Buy Alert: May 23, 2014
Trade Details
Buy Abercrombie & Fitch (ANF) June 21st $36 Puts for $2.00 or better
Why?
We recently made money on an ANF trade, but an even better opportunity has presented itself in the beleaguered teen-apparel retailer. Basically, teen clothing stores are being hit hard. The stats don’t lie. Stores like ANF don’t change their fashion styles quickly enough for teens these days.
ANF is also in a period of consolidation, often a prelude to a much bigger move. In this case, given all the negative news surrounding the company, that move is likely down.
We’re going with June options this time because farther out months are too expensive anywhere near the money.
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Category: OTW Buy Alerts
