Solar Edge (SEDG) is Well Positioned to Break to a Record High
Solar Edge is up 75% from its lows in March and several analysts think the stock can continue higher. Check out the following articles which discuss the appeal - 5 Under-the-Radar Energy Stocks to Buy Now and Why Shares of SolarEdge Technologies Popped 43.3% in April.
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Technicals
SEDG is showing strong upward momentum over the last month. There was a dip in the past week following earnings but the stock has recovered a bulk of the loss which is often a sign of strength. Since climbing above the 20-day moving average, buyers have been quick to step in on dips well ahead of the moving average. A horizontal level at $111 was a major hurdle early in the year and the weekly close above it further builds towards a bullish case.
*source Tradingview.com
If you agree there's further upside ahead for SEDG, consider this trade which is a bet that the stock will continue to advance over the next six weeks, or at least not decline very much.
Buy To Open SEDG 19JUN20 110 Puts (SEDG200619P110)
Sell To Open SEDG 19JUN20 115 Puts (SEDG200619P115) for a credit of $1.58 (selling a vertical)
This price was $0.02 less than the mid-point of the option spread when SEDG was trading near $118. 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 $1.30 per spread. Each contract would then yield $156.70 and your broker would charge a $500 maintenance fee, making your investment $343.30 ($500 – $156.70). If SEDG closes at any price above $115 on June 19, both options would expire worthless, and your return on the spread would be 46% (431% annualized).
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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
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Any questions? Email Colin@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?
Even better, you can become a Terry’s Tips Insider, and receive all our educational reports and materials absolutely free by opening a new account at the best options broker around - thinkorswim. If you open an account with our link, they will give you 60 days of free trading or up to $600, the same deals they give to everyone who opens an account with them. You must use this link to sign up - open thinkorswim account – and once you have funded your account with at least $3500, email Colin@TerrysTips.com and let him know that you have done it, and this is what he will do – sign you for our Premium Service package ($119.95 value plus an extra 4 months of our Premium Service, valued at another $190.80). You get $300.65 worth of services without paying us one penny.
I look forward to having you on board, and to prospering with you.
Terry
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