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Last week, we discussed skip-strike butterflies on YHOO, and put on a paper trade. Today, we are looking at Gap Stores (GPS), and putting on a paper trade that is based on a neutral to bullish outlook.

Specifically:

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• A review of last week
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• What did we want YHOO to do?
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• What did YHOO do?
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• Time decay and expiration
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• Taking a look at GPS
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• Where is the underlying?
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• What is the trading range?
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• What is the outlook?
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• Setting up the trade
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• What is the maximum risk?
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• What is the maxiumum upside?
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