Buy KORS via selling Sep 57.5 puts @70.4
Luxury goods maker Michael Kors is moving up on earnings. The last couple of times, the stock pulled back after the news event. The strike price of 57.5 is at the lower range of the recent base, and is several support levels lower.
I also sell APC Sep 75 puts @88.9. Anadarko Petroleum is a fracking stock, and recent earnings were in line. It has been my best trading stock this year.
Both APC and KORS are some more worm trades. In fishing terms, the premiums so small, they aren't even small fish, they are like digging for worms.
Long BRKB EMN GE GDX IWM KORS PG
Net long APC BA GLD LGF SPY