ACTIONS:

Buy to open the RMBS July 16 calls (RMBS150717C00016000, $0.30, up $0.06) at current levels.

Buy to open the RMBS August 16 calls (RMBS150821C00016000, $0.60, up $0.05) at current levels.

Dear Momentum Options Subscriber,

I have a New Trade on a name that the market-makers recently took us out of. Shares are showing strength again following a backtest to support and look poised to make a run at fresh 52-week highs.

 

Rambus (RMBS, $15.19, up $0.28)

Buy to open the RMBS July 16 calls (RMBS150717C00016000, $0.30, up $0.06) at current levels.

Buy to open the RMBS August 16 calls (RMBS150821C00016000, $0.60, up $0.05) at current levels.

I like these call options at current levels to play a push to $16-$17 over the next one to two months. I will provide the parameters for both trades in tomorrow’s Pre-Market Update.

The July calls are the regular monthly options that expire on July 17, and the August calls are the regular monthly options that expire on Aug. 21.

 

All prices given in this update are current as 12:45 p.m. EST.

I hereby disclose that I will be participating in the aforementioned trade(s). Every new Momentum Options recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.

Trade on!

Rick Rouse
Editor and Chief Options Strategist
Momentum Options