[Opening Put Position on Federated Dept Stores (FD)]
Dear Member:
Federated Department Stores Inc. (FD) has been unable to break daily, 3 day and weekly resistance. Stochastics on the daily chart have turned down. I like the Aug 45 puts (FDTI) which have a delta around -.48 at a limit of $3.30. Currently the 45 puts are about $1.18 in the money. I am placing an order to buy to open the Aug 45 puts (FDTI) on FD at a limit of $3.30 for the day.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
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