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The surprisingly positive labor report on Wednesday continues to point towards greater profitability within the only consumer sector with growing margins (tech and new-media). We like the breakout above resistance within the electronic gaming sector and expect Activision Blizzard, Inc. (NASDAQ:ATVI) to catch up to some of its peers that have already seen significant inflows.
Despite Wednesday’s rally, we want to be cautious about an entry here, and you may want to look for an early exit if the breakout is sustained through Friday’s labor report.
‘Buy to open’ the ATVI October 67.50 Calls (ATVI171020C00067500) for a maximum price of $2.00.
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