1:40pm (EST)
We have a New Trade for our Weekly Wrap on a stock we feel is headed from $28 to $40 over the next 6 months. We are using April call options to take advantage of the move.
The LEAP call options we are recommending are currently at $0.95 and a 10 contract trade would cost $950, or 1 contract would cost just $95. If shares reach $35 in 6 months the options will be worth at least $3. The return would be nearly 200%. If shares reach $40, the options will be worth at least $8 and the return would be over 700%!
A 10 contract trade would turn $950 into $8,000 while 1 contract would zoom from $95 to a value of $800 if $40 triggers down the road. Shares are in an uptrend and the company is a household name.
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New Trade!!!
H&R Block (HRB, $29.60, up $0.17)
Buy to OPEN January 30 calls (HRB140118C00030000, $1.10, $0.10)
Buy to OPEN April 32 calls (HRB140419C00032000, $0.95, $0.10)
Action: We like these calls for a run past $30 by mid-December and for a run past $35 into next year.