We hold two June 40-42 call spreads effectively for free, having legged into them in timely fashion and taken partial profits along the way. The stock has been a disappointment even though it cost us nothing to bet that it would get its mojo back at some point between early March, when we initiated the position, and late June, when it expires. Be that as it may, the stock is approaching a downside Hidden Pivot target at 28.15 where it would once again be an attractive buy. Accordingly, I’ll recommend acquiring four September 32 calls if SLW comes within 10 cents of the target. I’ll also recommend buying 400 shares via camouflage, using the first uptrending ‘X’ trigger that occurs on a 5-minute chart or less once the stock has come down to at least 28.35. The accompanying chart shows how fetching the pattern is that we’d be buying.
