Going For Broke With Wrigley

I've decided to go for broke with Wrigley's (WWY) call options, and bet on that February 7th earnings date. Wrigley's averaged forward and trailing price/earnings ratio is 25.26, and historically, and as mentioned in the last post Trading Gone Mad, this stock historically trades at a price/earnings of 30.0. Currently I'm up to 18 contracts of $65 February call options priced at $1.35, and also 88 contracts of $65 March call options priced at an averaged $2.32. So basically unless something drastic changes I'll be buying up options and biding my time...

Wrigley's News

Crain's Chicago Business - "What we're counting on, as investors, is for Wrigley to turn these brands on," says Jim Burns, president of J. W. Burns & Co., a Syracuse, N.Y.-based investment firm that holds approximately 200,000 Wrigley shares.

William Blair & Company Initiates Coverage - "With the release of a comprehensive report titled "Capitalizing on the Power of Consumer Brands," William Blair & Company initiated research coverage of four branded consumer products companies -- Chattem, Inc. and Wm. Wrigley Jr. Inc. with Outperform ratings..."

The Buchan Observer - Name your top dentist: Orbit - "Dentists, hygienists or dental practices are being sought for a high profile Oscar style national awards scheme and Wrigley's Oral Healthcare in Action is offering a year's supply of Wrigley's Orbit Professional fresh mint gum to a member of the public who nominated the winner."