ACTION:
Buy to open the ACHN August 10 calls (ACHN160819C00010000) for a maximum price of $0.55.
Dear Momentum Options Subscriber,
I have a New Trade for the portfolio this afternoon on a name that is showing strength, and I want to play the move with call options.
Achillion Pharmaceuticals (ACHN, $9.12, up $0.24)
Buy to open the ACHN August 10 calls (ACHN160819C00010000) for a maximum price of $0.55.
Action: I like these call options at current levels, and you can use Limit Orders up to $0.55 to get the best fills.
Shares have cleared their 50-day moving average, and they are looking good for a run to $10 or higher.
These are the regular monthly options that expire on Aug. 19. I will provide the parameters of the trade in Monday morning’s Pre-Market Update.
I hereby disclose that I will be participating in the aforementioned trade(s).
Trade on!
Rick Rouse
Editor and Chief Options Strategist
Momentum Options