ACTION:
Buy to open the SNE May 31 calls (SNE150515C00031000, $0.70, up $0.35) at current levels.
Dear Momentum Options Subscriber,
I have a New Trade for the portfolio on a familiar name. Shares are in breakout mode, and I want to get us in the call options before the talking heads notice.
Sony (SNE, $29.34, up $1.49)
Buy to open the SNE May 31 calls (SNE150515C00031000, $0.70, up $0.35) at current levels.
I was hoping that shares of SNE would stay below $28 before I got us into this trade, but the gap-up this morning had me scrambling.
I started doing a lot of research over the weekend on SNE, and I will try to have a more detailed write-up for you this afternoon. For now, I like these options to play a move past $30 and possibly up to $35.
These are the regular May calls that expire on May 15.
All prices given in this update are current as 10:15 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