Sticking With Cisco
I expected to have several earnings trades today. Cisco (CSCO) of course, but I also thought to take some action in Network Appliance (NTAP) and Whole Foods (WFM). But sometimes we don't get what we expect. I am making a trade in CSCO, so I will start there.
CSCO looks a bit vulnerable to higher than recent expectations or a sell-the-news reaction. I am long the shares and will continue to hold them as I still like the stock. I would buy more if they fall below $20, but I am not ready to chase the stock. Therefore, I will put my two theses to work. As a trade, I would consider going long the March $21 put and short 2x February $20 puts for $0.35. This is my approach for a trade....310 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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