IBM releases earnings on July 7 (that is the only caveat in this trade). But given the amount of time left on this trade, its still a good trade.
IBM is bouncing off the lower Bollinger Bands with lots of volume this past Friday.
Throw in a previous support point (watch the video below), the trade makes sense
We go out to September to mitigate any effects from the earnings report as well as minimize time decay.
Bull Call – 200/210
Debit $2.5 (at market open today)
Reward – 7.5
Contracts – 30
Hold time 3 to 6 weeks.
