Swingman39
Long

BMY Jul 20th $55 Call

NYSE:BMY   BRISTOL-MYERS SQUIBB CO
Looking to hold my Jul 20th $55 Calls bought back on 6/18 at 53.95 (or $0.80/contract). It's held the trend line of ~+20% so far (+2% based on stock price). If this continues until expiration, the lower trend line should yield ~45% at a close of $56.15 (+4% based on stock price), whereas the upper trend line that recently took shape could yield up to ~420% (8% based on stock price). Anything in between is obviously a win as well, just looking to maintain the lower line and sell on any large moves higher.

Buying shares is also an option, I'm just choosing to leverage my return, but will exit on a close below the lower line.

Comments

I’kk be monitoring this. Looks like the stoch and macd are showing slightly overbought at the moment so I’m going to wait for a slight dip to look for an entry.
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Swingman39 wounsel
@wounsel, Stochs stayed at that "overbought" level while the shares rose from $56-$66, so I wouldn't rely completely on that indicator, but it's certainly a valid call out and worth considering when heading into the position. Best of luck.
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No real resistance until you get to $60
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