Wednesday, January 20, 2010

SBUX


Earnings: 20 Jan 2010 AMC (After Market Close)

Set up: Two gaps below- 14.7 and 19.70. Lower parallel trendline currently at 20. Bearish rising wedge pattern.

Targets: 22, 21 and 20

Strategy: Feb 23/22 put spread

RISK: upside target is 25.50. The upper parallel trendline is currently at 25.50



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