BTW - you guys REALLY should check out 'freestockcharts.com'. How cool is that? It basically is the same as paying Esignal $100 a month. It streams FREE real time on that chart and allows you to do basically everything what you pay other services for. All for FREE.
Anyway, the market is clearly starting to move back into the normal cyclical movements it does. So, I'd expect the normal seasonal moves to happen. That means these retail stocks probably will begin to fall big starting in late June-ish with the big moves in July/Aug. So, with ARO moving higher here, I'd start to move into the Oct $30 puts probably 1 at a time. Maybe 1 every other day to average into them. The reason I say that is because I think it could run to $40ish. But that would bring the options down dramatically. Right now, the 50% retrace is about $25. That will climb if the stock moves higher than $37.50.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.