In November 2015, we recommended a buy on the Pandora (P) January 12 calls, exiting half for up to 60% just days after. Today, as the underlying stock moves to $13.45, the calls last traded at $2.80. Sell to close…
As for new trades, consider H&R Block (HRB) upside.
After dipping on earnings, H&R Block (HRB) has become massively oversold technically with MACD and RSI. Even MFI is beginning to reverse well off recent lows. With tax season creeping up on us, the stock could easily tick higher as it has over the last few years… We’re willing to bet the stock bounces well off these recent lows, potentially refilling its bearish gap from about $37 a share.
The best way to trade a potential reversal here is by buying to open the HRB April 2016 33 calls up to $2.60 and / or the April 2016 34 calls up to $2.
Happy Holidays!!!
Ian L. Cooper
Forgotten Profits