If I had bought this, this is how I would set up the trade.
My first stop would be around $134 like you said. My first target would be around $160 where I would exit 2/3rds of the trade and move my next target to $170 and my stop to break even.
Heres what I don't like about this setup. Initially I'd only feel comfortable for a quick push to $160. But with a $134 stop thats a bad risk/reward for me; since I'm risking $14 for roughly $10. It would make a little more sense if my first target was $170 - but I like things to happen fast. Whatever fits your risk parameters and your plan then stick with that.
