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.

ACHN

I hereby disclose that I will be participating in the aforementioned trade(s).

Trade on!

Rick Rouse
Editor and Chief Options Strategist
Momentum Options