#1 Liz Claiborne (LIZ)
By Michael Shulman
Kentucky is known as the "home of fast horses and beautiful women" (good thing I didn't get my adjectives confused). On Derby Day, this is especially true. Well, obviously the horses, but I'm talking about the women. Women's fashion is a big part of the tradition, but women in general are spending more money on clothes. Not as much as they did in 2005, but a lot more than in 2008 and 2009. One beneficiary could be Liz Claiborne (LIZ).
LIZ is a terribly managed company, and in the past my subscribers were able to enjoy gains of 155%, 162%, 169% and 200% with put options on LIZ. But now it is time to look at call options. The company is on the mend and has a number of popular brands, and it may even be a takeover target.
With the company reporting earnings on May 13, I'd look at some short-term LIZ calls.
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