ACTION:
Buy to open the ATML May 9 calls (ATML150515C00009000, $0.40, down $0.05) at current levels.
Dear Momentum Options Subscriber,
I have a New Trade on a stock that has been showing strength recently. Shares are currently at $8.53 and could make a run to $10 by mid-May.
If my $10 price target for the stock is reached, the options I’m recommending will easily double.
Atmel (ATML, $8.53, down $0.09)
Buy to open the ATML May 9 calls (ATML150515C00009000, $0.40, down $0.05) at current levels.
The semiconductor stocks have been on roll in recent weeks, and Atmel could be a great way to play the continued strength.
There is heavy action in the ATML May 8 calls, as over 1,000 contracts have traded so far today. I like the ATML May 9 calls to play a possible run to $10 by mid-May. If reached, the ATML May 9 calls will be worth at least $1.00, which would represent a 125% return from current levels.
These are the regular monthly options that expire on May 15.
All prices given in this update are current as of 11:20 a.m. EST.
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