Altria Group Inc. (NYSE: MO) could be positioning itself for another leg up. However, the CCI is working against the shares right now. We think the stock is going to test the green trend line but not for another month or so. This means the trend line will be much higher then.
Right now, selling covered calls against shares of Altria Group (MO) may be a good way to hedge this potential test, but still have long exposure. The trend is definitely up so shares may find support before this test even happens.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.