Trade of the Day (HD) 3.21.2012

Break-even: I break-even on this trade if HD closes at $50.78 by April 20, 2012.

Unprofitable: This trade is unprofitable if HD closes under $50.78 by April 20, 2012.  The most I can I can lose is the $.78 that I paid for the Calls.

Reason I Like This Trade: When HD was trading $49.62, I saw a customer buy 3549 April 50 Calls for $.79, so I knew that I want to jump on the LONG HD bandwagon even though the stock traded its 52 week high today.  In Our “LIVE” Trading room talked about this trade in real-time, but have to be in the room to hear to LIVE.   

UPDATE 3.22.2012 This was a day trade for me and when I saw the stock trade higher, I sold out of my Calls for $.88.  Taking profits and moving to the next trade.  

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