Shuffle Master (SHFL) has broken out of a trading range on very heavy volume. This company makes roulette wheels, card shuffling machines, etc. for use in casinos. SHFL is currently trading at $8.53 a share.We will buy it on any pullback.
The implied volatility of the options (per www.optionstrategist.com) is 80.77 (which is very high for this stock).
The in the money calls are trading currently as follows:
Exp. Month Strike Bid Ask
------------ ------ --- ----
Oct $7.50 $1.25 $1.40
Nov $7.50 $1.40 $1.50
Jan $7.50 $1.70 $1.85
The options are a bit pricy here, so we will probably aim to buy the stock, but only on a pullback to near the $8 level.
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