Friday, June 17, 2011

Starbucks (SBUX) Straddle opportunity 6/17

I know we dont highlight a lot of individual stocks, but heres the Starbucks daily chart to our left, and I think it could be ready for a breakout one way or the other. If I had to guess I think its going south as we form a descending triangle pattern. I think this is an attractive straddle opportunity with historical and implied volatility at relativly low values for SBUX. I'm going to put on an Oct straddle 35/36.

1 comment:

  1. Dolemite,
    I see that you are holding UNG. What is your reasoning?