Today, a September $17.00 call option was purchased for $0.31. The expectation of the trade is that the options will get to $1.00 before expiration. The stock is currently trading at $16.93. The reasons for the purchase are below:
- Ford has just released outstanding monthly numbers for August. The link to its numbers are here.
- Analysts have been continuously and consistently bullish on the stock.
- A large green candle today off of support and moving averages
- Stochastics such as RSI and MACD show a strengthening bullish condition.
- Getting to $18.00 has a high probability of success.
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