Red Hot ‘Buy’ for Wingstop

Yesterday, we looked at a Monthly Price Chart of   April 30th, 2024 Red Hot 'Buy' for Wingstop Dear Reader, Yesterday, we looked at a Monthly Price Chart of Leidos Holdings, Inc., noting that LDOS's 1-Month Price is trading above the 10-Month SMA signaling a 'Buy'. For today's Trade of the Day we will be looking at a Daily Price chart for Wingstop Inc. stock symbol: WING. Before breaking down WING's daily price chart let's first review which products and services are offered by the company. Wingstop Inc., together with its subsidiaries, franchises and operates restaurants under the Wingstop brand. Its restaurants offer classic wings, boneless wings, tenders, and hand-sauced-and-tossed in various flavors, as well as chicken sandwiches with fries and hand-cut carrots and celery that are cooked-to-order. Now, let's begin to break down the Daily Price chart for WING. Below is a Daily Price Chart with the price line displayed by an OHLC bar. Buy WING Stock The Daily Price chart above shows that WING stock has been hitting new 52-Week Highs over the past week. Simply put, a stock does not just continually hit a series of new 52-Week Highs unless it is in a very strong bullish trend. The Hughes Optioneering team looks for stocks that are making a series of 52-Week Highs as this is a good indicator that the stock is in a powerful uptrend. You see, after a stock makes a series of two or more 52-Week Highs, the stock typically continues its price uptrend and should be purchased. Our initial price target for WING stock is 405.00 per share. Profit if WING is Up, Down or Flat Now, since WING is making a series of new 52-Week Highs and will likely rally from here, let's use the Hughes Optioneering calculator to look at the potential returns for a WING call option spread. The Call Option Spread Calculator will calculate the profit/loss potential for a call option spread based on the price change of the underlying stock/ETF at option expiration in this example from a 7.5% increase to a 7.5% decrease in WING stock at option expiration. The goal of this example is to demonstrate the 'built in' profit potential for option spreads and the ability of spreads to profit if the underlying stock is up, down or flat at option expiration. Out of fairness to our paid option service subscribers we don't list the option strike prices used in the profit/loss calculation. The prices and returns represented below were calculated based on the current stock and option pricing for WING on 4/29/2024 before commissions. Built in Profit Potential For this option spread, the calculator analysis below reveals the cost of the spread is $575 (circled). The maximum risk for an option spread is the cost of the spread. The analysis reveals that if WING stock is flat or up at all at expiration the spread will realize a 73.9% return (circled).  And if WING stock decreases 7.5% at option expiration, the option spread would make a 73.9% return (circled).  Due to option pricing characteristics, this option spread has a 'built in' 73.9% profit potential when the trade was identified*. Option spread trades can result in a higher percentage of winning trades compared to a directional option trade if you can profit when the underlying stock/ETF is up, down or flat. A higher percentage of winning trades can give you the discipline needed to become a successful trader.  The Hughes Optioneering Team is here to help you identify profit opportunities just like this one. Elevate your portfolio with Chuck's Lifetime Income Program for exclusive, actionable call option spread recommendations along with a treasure trove of trading insights! Trade High Priced Stocks for $350 With Less Risk One of the big advantages to trading option spreads is that spreads allow you to trade high price stocks like Amazon, Google, or Netflix for as little as $350. With an option spread you can control 100 shares of Netflix for $350. If you were to purchase 100 shares of Netflix at current prices it would cost about $56,000. With the stock purchase you are risking $56,000 but with a Netflix option spread that costs $350 your maximum risk is $350 so your dollar risk is lower with option spreads compared to stock purchases. Short-Term Program from Chuck! Chuck Hughes has just launched his exciting new trading service program, Lightning Trade Alerts. This new service focuses on low-cost & short-term options trade. Members will receive hand-picked options trades from the 10-Time Trading Champion, Chuck Hughes. Call our team at 1-866-661-5664 or 1-310-647-5664 to join!  Wishing You the Best in Investing Success, Chuck Hughes Editor, Trade of the Day Have any questions? Email us at dailytrade@chuckstod.com *Trading incurs risk and some people lose money trading.   See Related Articles LDOS: Trade Top Defense Sector Stock Oil & Gas ETF Offers Trade Opportunity Are New Highs in Store for TDG?     © 2024 Tradewins Publishing. All rights reserved. | Privacy Policy | Terms and Conditions | Contact Us If you didn't create an account using this email address, please ignore this email or unsubscribe using the link below. To ensure delivery of this email to your inbox and to enable images to load in future mailings, please add todaystrade@chuckstod.com to your e-mail address book or safe senders list. DISCLAIMER: Auto-trading, or any broker or advisor-directed type of trading, is not supported or endorsed by Legacy Publishing LLC. 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