Will Old Dominion Freight Line Put Cash-In-The-Box?

Old Dominion Freight Line, ODFL, Broke out of its 2 1/2 month long trading range Friday on a very nice volume spike. See the ODFL chart above, courtesy of FreeStockCharts.com.  This will make an excellent paper trade. Place a contingent order that if the stock trades above approx. $37.98 then buy the stocks or April $40 Call Option on the open at market. Then we plant to hold it for a 5% gain in the stock price. The protective stop loss should be set just below the resistance-now support line at about $37.69 ish on the close. Friday the the $40 April Calls closed at about 35 cents with a 10 cent spread so the bid price (the price you get if you decide to sell) is about 25 cents right now. However if the stock gains about 5% in the next several days the options could be worth about 82 cents on the bid price according to the option price calculator at OptionsXpress.com so we have a chance of doubling our money on the options if things work out as planned in the next few days. Stay tuned!