Bullish On Consumer Staples
I bought an option contract of the SPDR Select Sector Consumer Staples ETF (XLP) right before market close today. The XLP is comprised of companies you are familiar with such as Proctor & Gamble, Coca-Cola Co, PespsiCo Inc, Walmart, Costco, and Colgate-Palmolive, just to name a few top holdings.
I'm anticipating a $2 move in the ETF, $51 up to $53 over the next three weeks and that's enough to make a nice return on the $98 capital risked. I shall keep you informed how the trade goes. We are emerald chasers...
