MO formed a bull flag in the last quarter of 2016 and has broken out to higher highs. The RSI has not followed and confirmed the price strength. The target for the bull flag is $74 price level.
Watch for confirmation of price action and RSI Divergence. We will then look to buy puts.
W sold the MOS 2/32 calls @ $1.92 the last time and the stock has gotten back to support, so I'm trying it again. If it breaks $30.69 I'm gone, but we're oversold here and it fits my risk/reward profile...OZ
WHILE i STILL LIKE MOS IT IS OVERBOUGHT AND IS CURRENTLY AN "INSIDE" DAY.
IT HAS TOPPED OUT ON EACH OF ITS LAST RUNS IN THIS MANNER SO I'LL STAND ASIDE WITH OVER A DOUBLE AND WAIT TO SEE WHAT DEVELOPES...OZ