Is the "Pretty Girl Index" Getting Ugly?

Is "The Pretty Girl" index about to get uglier?

A quick reminder. That index was created by WJB Capital's technical analysts John Roque, and it includes names like Baidu, Chipotle, Decker's, Hansen Natural, Estee Lauder, Salesforce.com , Wynn, and well you get the point: Momentum stocks the market is in love with, you've thought about buying, fantasized about shorting, and you've probably lost money doing both at some point.

One of those components reports this Thursday, when Baidu releases results after the bell. Current option prices imply about a 10 percent move, and it was the belief of both Mike Khouw and Carter Worth that the stock would sell-off post earnings. That has not materialized this morning, with the stock trading higher, but the trade and breakdowns are below.

MIKE'S BAIDU OPTIONS CHAIN — $120

  • BUY OCT WEEKLY 115-STRIKE PUT FOR $3.75
  • SELL OCT WEEKLY 100-STRIKE PUT FOR $0.75

HOW MIKE’S BAIDU TRADE MAKES MONEY

  • LOSSES ABOVE $112
  • PROFIT BELOW $112
  • PROFITS CAPPED AT $100

The other member of "The Pretty Girl Index" that we took aim at was Hansen , which is actually among the best performing members of the PGI. That relative strength is a weakness, at least in Dan Nathan's eyes. Throw in stratospheric valuations, and you have the makings of a short. His trade and breakdown are below.

DAN'S HANSEN OPTIONS CHAIN— $92

  • BUY NOVEMBER 85-STRIKE PUT $2.70
  • SELL NOVEMBER 75-STRIKE PUT $1.00

HOW DAN'S TRADE MAKES MONEY

  • LOSSES ABOVE $83.30
  • PROFITS BELOW $83.30
  • PROFITS CAPPED AT $75.00

Interesting to note that those contracts are extremely active today, with HANS November 85/75 put spread trading 36-times their average daily volume, and those Baidu strikes trading ten-times their average daily volume.

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