ACTION:
Buy to open the SBUX January (2017) 47.50 puts (SBUX170120P00047500) for a maximum price of $1.10.
Dear Momentum Options Subscriber,
I’ve decided to swing the bat with an aggressive earnings trade using January put options on Starbucks (SBUX), so let’s take a look.
Starbucks (SBUX, $51.76, down $1.22)
Buy to open the SBUX January (2017) 47.50 puts (SBUX170120P00047500) for a maximum price of $1.10.
Action: I like these put options at current levels, and you can use a Limit Order up to $1.10 to get the best fills.
These are the regular monthly options that expire on Jan. 20, 2017. I will provide the parameters of the trade in tomorrow’s Pre-Market Update.
I hereby disclose that I will be participating in the aforementioned trade(s).
Trade on!
Rick Rouse
Editor and Chief Options Strategist
Momentum Options