Micron Trade Recap
Good day folks and I hope you all had a really great weekend. As we just came out of Micron (MU) earnings call last week on 26 Sep, I want to summarize the money making opportunity that just past.
I said on 25 Sep:
"I think we shall see Micron Technologies (MU) perform well this week. Earnings call is on 26 September. How are you going to trade this company? The emerald chasers out there know, become one today so you can capitalize on these many money making opportunities."
And if you look back to the 20 Sep "Bullish On..." blog I mentioned there MU going higher. MU was at $34.87 then and is now $40.37.
Well this is what emerald chasers did (way to go Josh and Michael!):
We bought the 20 Oct 34/37 vertical call spread, the 20 Oct 32/35 vertical call spread, and the single 29 Sep 36 calls. These strategies were implemented as early as the second week of September and as late as the day of earnings call (26 Sep) with the 29 Sep calls. If I'm speculating a company will beat earnings expectation I don't require a long time horizon in the position thus I bought the 29 Sep 36 calls which at the time of purchase would expire in four days.
So what's an earnings call?
And for you investors out there check this out: Micron Set to Double After Q4 Earnings ; you may find that Micron is what you're looking for as it leads the S&P 500 currently up +69% YTD!
