ACTION:
Buy to open the HILL September 7.50 calls (HILL150918C00007500, $0.45, up $0.15) at current levels.
Dear Momentum Options Subscriber,
I have a New Trade on a name that is showing incredible momentum. Shares have been setting fresh 52-week highs and have been in a strong uptrend all year. The recent peak of $6.53 will likely clear this week, as a push past $7 seems certain.
Dot Hill Systems (HILL, $6.42, up $0.30)
Buy to open the HILL September 7.50 calls (HILL150918C00007500, $0.45, up $0.15) at current levels.
Shares have been in a strong uptrend all year and could easily make a run at $8-$10 by mid-September on continued momentum.
If shares test $8 within five months, these options will be worth at least $0.50. If shares test $10, these options will be worth at least $2.50 for a return of over 500%.
I like these options at current levels and the risk/reward this trade offers. These are the regular monthly options that expire on Sept. 18.
All prices given in this update are current as 2:10 p.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