I’d be tempted to recommend shorting a Hidden Pivot at 31.52 aggressively were it not for its close proximity to a visually obvious high at 31.63 made two weeks ago. Let’s try it anyway, very gingerly, by naked-shorting a single September 32 call (SYJIF), stop 31.64, if and when SKF gets within a six cents of the target. By rough estimate the calls should be offered for around 2.60 at the time, but you should try to do no worse than a price midway between bid and offer. _______ UPDATE (Aug 19): Let’s bag the short, since the pattern that yielded our target is getting a bit sloppy.
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