Restoration Hardware Holdings, Inc., together with its subsidiaries, engages in the retail of home furnishings. It provides bedroom, dining, upholstery, home office, and media furniture products and has over 2,100 full-time employees in the services sector. Today we saw a trader sell their long March 55 calls and roll them to the Apr 65 line. This is a bullish trade and I think the stock will move higher on this unusual options activity. This block also represented volume over 4 times the average daily option volume in RH. If I did not want to put on an options trade I could buy the stock with a $6 stop, under the Ichimoku Cloud.
Possible Trading Ideas:
Buy Stock: $65.38
Stop: $59.38
Target #1: $68.38
Target #2: $71.38
Stop at Breakeven when Target #2 is hit:
Target #3: $74.38
Target #4: $77.38