Buy WFM via selling Jul 87.5 puts @96.7
Whole Foods Market had a breakout on May 3, then faded back to the base, likely taking out some stop loss orders with a 8% pullback from the breakout high. Now it has been making new highs. The strike price of 87.5 is below the 50 day moving average, and below minor support at the breakout day high of 90.
As for the overall stock market, I thought to myself that maybe we would only see two and a half down days and this mornings brief dip was that half. I still have a lot of dry powder.
Long ALXN BRKB EWG LGF WFM
Net neutral IWM SPY TLT
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