ACTIONS:
Buy to open the VEEV April 29 calls (VEEV150417C00029000, $0.60, down $0.11) at current levels.
Buy to open the CY April 16 calls (CY150417C00016000, $0.40, down $0.15) at current levels.
Buy to open the CY June 16 calls (CY150619C00016000, $0.75, down $0.15) at current levels.
Dear Momentum Options Subscriber,
I have a New Trade on a stock that we have played in the past with good results. Shares have been volatile lately due to heavy short interest, but the sellers are starting to cover.
I also have New Trades on a stock that is currently above $15 that is showing signs that it may make a run to $20.
Veeva Systems (VEEV, $27.60, down $0.13)
Buy to open the VEEV April 29 calls (VEEV150417C00029000, $0.60, down $0.11) at current levels.
I like these call options at current levels to play a possible run to $30. I will provide the parameters of the trade in tomorrow’s Pre-Market Update. These are the regular monthly calls that expire on April 17.
Cypress Semiconductor (CY, $15.27, down $0.27)
Buy to open the CY April 16 calls (CY150417C00016000, $0.40, down $0.15) at current levels.
Buy to open the CY June 16 calls (CY150619C00016000, $0.75, down $0.15) at current levels.
I like these options at current levels as shares continue to reach fresh 52-week peaks. I will give the parameters of the trades tomorrow morning. The April calls are the monthly options that expire on April 17, and the June calls are the monthly options that expire on June 19.
All prices given in this update are current as 2:45 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