Call Spread on UA on 2/11/2014

Under Armour (UA) engages in the development, marketing, and distribution of branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, the Middle East, Africa, Asia, and Latin America.

The company offers its apparel in compression, fitted, and loose fit types to be worn in hot, cold, and in between the extremes. Its footwear products include football, baseball, lacrosse, softball and soccer cleats, slides, performance training footwear, running footwear, basketball footwear, and hunting boots. The company’s accessories comprise headwear, bags, and gloves.

It sells its products under the UNDER ARMOUR, HEATGEAR, COLDGEAR, and ALLSEASONGEAR brands.

The company sells its products through wholesale channels, including national and regional sporting goods chains, independent and specialty retailers, department store chains, institutional athletic departments, and leagues and teams; independent distributors; and directly to consumers through its specialty and factory house stores and Website.

Shares have formed a bullish "flag" after the firm posted a strong quarterly report. Higher share prices are expected for this stock.

52-Week Trading Range: $46.31 - $110.00

Last Trade: $108.23

Here is the trade: 

Trade Buy 1 March $110.00 Call at $3.40 Sell 1 March $120.00 Call at $0.70 For a net debit of $2.70 Profit/Loss Analysis Breakeven at $112.70 Maximum profit is $730.00 at strike of $120.00 Maximum loss is ($270.00) at strike of $110.00 Closing Summary Sold 1 March $110.00 Call at $10.00 Bought 1 March $120.00 Call at $3.00

Position closed on 2/26/2014 at price of $7.00 with a 159.26% gain in 15 days.

Updates

2/26/2014 12:01:41 PM

Taking profits on UA call spread. 

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