|
Consider Integrated Device Technology (IDTI) Following the Correction
Consider Integrated Device Technology (IDTI) Following the Correction
Several analysts are expecting further upside for Integrated Device Technology, here are two of them – What the market is missing about Integrated Device Technology and Two worthy stocks for investors: Hovnanian Enterprises, Integrated Device Technology.
____________ advertisment ______________
Learn How to Turn a $5,000 Account Into a 7-Figure Fortune Within 5 Years!
Ryan Jones is an award-winning trader who's famous for growing an account by 613% in just 72 days during a public trading competition ... with real money.
During a limited special training, Mr. Jones reveals how to take advantage of an unprecedented wealth-building opportunity trading today's weekly Options without looking at a single Greek. Find out how to take advantage of this opportunity in weekly Options using Ryan's "Warped Trades" approach.
Click here to reserve your seat for this limited FREE training >>
______________________________________
Technicals
IDTI has been correcting lower over the past two weeks and is now seen trading at some important technical support. Specifically, the stock is seen bouncing from a horizontal level residing at $31.30. This level was notably important through several gaps that took place in late 2017 and earlier this year. As well, the stock price is near the 200-day moving average, an indicator it has not traded below on a sustained basis in about two years.
*source Tradingview.com
If you agree there's further upside ahead for IDTI, consider this trade which is a bet that the stock will continue to advance over the next three weeks, at least a little bit.
Buy To Open IDTI 20JUL18 29 Puts (IDTI180720P29)
Sell To Open IDTI 20JUL18 32 Puts (IDTI180720P32) for a credit of $0.69 (selling a vertical)
This price was $0.02 less than the mid-point of the option spread when IDTI was trading near $32. Unless the stock rallies quickly from here, you should be able to get close to this amount.
Your commission on this trade will only be $2.50 per spread (the rate charged by thinkorswim for Terry’s Tips’ subscribers). Each contract would then yield $66.50 and your broker would charge a $300 maintenance fee, making your investment $233.50 ($300 – $66.50). If IDTI closes at any price above $32 on July 20, both options would expire worthless, and your return on the spread would be 28% (568% annualized).
____________ advertisment ______________
Send Me My Copy Of Harry Dent's Brand New eBook: "Real Estate Doomsday"
Find out what Dent is revealing about the future of the real estate market and homeowners all over America... before it's too late! Grab your copy today.
______________________________________
Changes to Investor’s Business Daily (IBD) Top 50 This Week:
We have found that the Investor’s Business Daily Top 50 List has been a reliable source of stocks that are likely to move higher in the short run. Recent additions to the list might be particularly good choices for this strategy, and deletions might be good indicators for exiting a position that you might already have on that stock.
As with all investments, you should only make option trades with money that you can truly afford to lose.
Happy trading,
Terry
____________ advertisment ______________
Give Me 9 Minutes a Week and I Guarantee You $67,548 a Year
Master trader Jim Fink trades the market for extra cash... and averages $185 per day. $185.06 to be exact. That adds up to $67,548 per year, and if you follow his strategy, you can do the same thing yourself. Why not? All it takes is nine minutes a week. And you don't have to invest a dime up front.
Go here to see if this $67,548-a-year system is for you.
______________________________________
Any questions? I would love to hear from you by email (terry@terrystips.com), or if you would like to talk to our guy Seth, give him a jingle at 800-803-4595 and either ask him your question(s) or give him your thoughts. seth@terrystips.com
You can see every trade made in the actual option portfolios conducted at Terry’s Tips and learn all about the wonderful world of options by subscribing here. Why wait any longer to make this important investment in yourself?
I look forward to having you on board, and to prospering with you.
Terry
|
