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Hawk’s Nest

Relative Strength Consumer Brand Name Sees Call Buy Looking for New Highs

by | Dec 7, 2022

Harley (HOG) with 875 May $49 calls bought aggressively at $4.30 offers as the name forms a strong bull flag near recent highs and continues to show great relative strength since its large earnings gap up in October. A brekaout above 48 likely goes to 50 and then 52 the highs from 2021. HOG is up about 22% YTD in a tough macro tape and also saw a massive insider buy back in September when the CEO bought $1M in stock under $39/share. These May call buys are looking for continued outperformance into 2023 for the consumer discretionary stock.