I am not sure of direction of the breakout but I am expecting in the coming months. $30 and $31 have acted as strong res/supp points on the .
Thus I am looking to play a long strangle strategy. I am looking to roll out my $31/$30 strangle to Feb-March 2014.
I will play a pure directional strategy with common shares once a direction is confirmed so as to leverage the strangle.
Upside target would be Fib 76.4. Downside target around $25 and below