Intra-day Update: DLTR H/S Top
Intra-day Update: DLTR H/S Top
This is a potential H/S top on DLTR. IF it is not a H/S top, it is a double top, and should be heading lower either way. IF the H/S is correct, we can target 32 for an exit. This accounts for about a 15% drop from here. Not bad. We need this to break lower before we jump in, unless you are feeling aggressive in this market, in which case today’s strength would be good for a slightly better, but pre-mature, entry.
DLTR has very nicely priced options. I really like the price of the Oct 37.5 Puts, but with a potential move like this, the Oct 35 Puts for about $.65 could get a nice price explosion. For those of you looking for a little more time in this market, be wary as the time value you purchased today will literally be burning a hole in your pocket. To me, the Nov 35s are reasonably priced also, but I don’t want to overpay for that time value as of yet.
Skål!
