$DKS Dick's Sporting Goods - Range Breakout
$DKS Dick's Sporting Goods up 3% today on strong volume with earnings coming later this week.
Close today just above upper limit of a month long range. Expecting bullish channel that began off the March lows to continue.
Unusual bullish options flow today - About 4,600 $54.00 calls expiring this week traded vs OI of 5 contracts for total premium outlay of about $200K.
Just for these calls to break even at expiration, we'd need to see a move from today's close of about +14%. Could be a bullish sign for earnings.
Target: $60 by 2nd half of Sept (Assumes a strong earnings report Wednesday)
Close today just above upper limit of a month long range. Expecting bullish channel that began off the March lows to continue.
Unusual bullish options flow today - About 4,600 $54.00 calls expiring this week traded vs OI of 5 contracts for total premium outlay of about $200K.
Just for these calls to break even at expiration, we'd need to see a move from today's close of about +14%. Could be a bullish sign for earnings.
Target: $60 by 2nd half of Sept (Assumes a strong earnings report Wednesday)