RH trade ideas
Trader Rolling their Position from Bullish March until AprilRestoration 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 March 55 Calls that they were long and buy the April 65 Calls. This is a bullish trade and I think the stock will move higher with this Unusual Options Activity. This was 4.2 times usual volume traded in a day. If I did not want to put on a bullish trade via options 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
Strong upside with RHStock filled gap, multiple confluence support, bullish divergence, low risk entry point
Upside target 90ish in 2 months
