Trade of the Day: Olin Corp. (OLN)

by Ken Trester | October 21, 2013 5:12 am

Olin Corp. (OLN[1]) is a holding company that has three segments: chlor alkali, chemical distribution and Winchester firearms. Since Oct. 9, the stock has been rising from the $22 level and it based all last week.

Every week, my quantitative Power Options system scans thousands of potential option plays to develop an exclusive list of Power Options. These Power Options rely on a proprietary, scientific approach that removes the guesswork and allows my powerful software to identify the best option buys.

In keeping with the market’s bullish trend, the system has flagged OLN as being volatile and liquid enough to make a great bearish options trade.

Recommendation: Buy OLN February 20 Put options at 60 cents or lower. After entry, take profits if the stock price hits $20.70 or the option price reaches $1.20. Exit if the stock price closes above $23.80 or the option price falls to 40 cents.

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Source URL: https://investorplace.com/2013/10/trade-day-olin-corp-oln/

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