TripAdvisor (TRIP)

Mar 18, 2021Trade Ideas

Travel site stocks could see higher highs moving forward.

For one, we have millions of vaccines rolling out, increasing confidence that life could soon return to some sort of normalcy. Two, Joe Biden is reportedly eyeing mid-May 2021 to ease travel restrictions, according to CNBC. “There is going to be a sea change in mid-May when vaccines are more widely available to everyone,” according to an administration official.

If travel restrictions are lifted, we could see a mad rush of people going on vacation. That could send stocks like TripAdvisor (TRIP) even higher. After bottoming out around $15 in mid-2020, the stock already ran to $61.76, but this may just be the start for its run.

There are a few ways to trade TRIP.

One is to buy the TRIP stock up to $63 a share. We have a near-term target of $70. We’re also setting a stop loss at $57. Two, you can buy to open the TRIP April 16, 2021 60 calls at market. Three, you can also hedge for potential downswings with the TRIP April 16, 2021 60 put.

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