NEW TRADE * EL * calls 7/27/10 Estee Lauder (EL $63.35 + 0.40) manufactures and sells skin care, makeup, fragrance and hair care products. Stock had an impressive 7 month run from 9/09 to 3/10, and then tested the move forming a bullish double bottom formation in the process. Recent action shows EL ready to continue its upside momentum. We have solid fundamentals. For the 9 months ended 3/31/10, revenues rose 5% with net income posting a 92% gain. In addition company should do well no matter what happens to the economy, as personal grooming needs are rarely cut back. We will be using the in the money Oct 60 calls with a target just under the April high at 71. Exit point is 59.35 on a closing basis. RECAP BUY the Oct. 2010 EL $60.00 calls, currently $5.80 bid / $5.90 ask, at MARKET to OPEN a position. Good luck Joe Lesko Copyright © 2010 Option Principal Publishing