$DPZ September Bull Risk Reversal

FriscoTrades Updated   
NYSE:DPZ   Domino's Pizza Inc
Today a trader opened a bull risk reversal on Domino's Pizza buying over 700 SEP $400 calls and selling the $300 put.

This is a very bullish trade and not too far out , indicating a potential move up to $400 in the near term.

Technically, DPZ has a bullish EMA cross and curl on the daily, with a weekly MACD bull cross forming as well.

Trading at $377 now, I think $400 will be a magnet psych level. The stock in the past tends to "gravitate" towards this number and it also coincides nicely with the weekly 21ema

A close below the 21day EMA will invalidate the trade.
Trade closed: target reached:
Target reached, this banked $


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