Walgreen’s (WAG) with a collar position put on in April as 3,000 $43 calls are sold at $1.40 and 3,000 $36 puts are bought at $1.70 Wednesday, a 30-cent cost of protection per collar tied to 165,000+ shares bought. The collar is a risk management strategy. In this case, the trader sees maximum upside in shares around 10% higher from here. Walgreen’s reported fairly strong same store sales for October and is expected to benefit from this Winter’s flu epidemic. Shares trade 14X earnings, 0.6X sales and 22X cash flow, a bit richer than CVS which trades 12X earnings, 0.55X sales, but 45X cash flow. Credit Suisse looks to have the Street high target at $45. The chart looks fairly bullish with a breakout at $41 that could target a move to $47 resistance.