Selling Calls? Consider Tiffany (TIF $TIF)
1. The strong immediate resistance will not easily be broken because of the five previous attempts to break the support in the past with the 6th, successful.
Ad absurdum, let’s assume this will not be a major problem.
2. The next objective will be the resistance which goes through almost four peaks during July 2011 – April 2012.
It looks like that moment (if and when it will happen) will coincide with hitting the haDelta resistance.
Two independent resistance levels are worth a greater scrutiny than one.
From a technical perspective, the option players have a great time selling Calls at these two levels.