Pre-Market Analysis: PH Call, Put & Stock Purchase PlayPH looks like we may have a 50% Fib Retracement Retest back to the $661.71 Price Level before potentially consolidating lower back to the $603.34 Low. We're going to potentially place calls back to that $661.71 and then flip to PUTs on the reversal from here to capture both sides of the potentially move lower (if this expectation becomes a reality). If we do reach those $603's again, we would look to potentially position ourselves for the Long-Side with shares to hold, as the stock typically does exceptionally well in beating Earnings, while also still holding a Buy Rating on average and listed as Outperform.
We're currently sitting $70.92 off the Highs as of yesterday's close, with $188.32 off of it's 52-Wk Lows (up +42% YTD). If you're not familiar with Parker-Hannifin Corp, they manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems.
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