Buy The 18December 50 Calls for BSX

Third time might be the charm for buyers of the Dec 50 call in Boston Scientific Corp (BSX). The buyers have been around since the basing began with UOA and for this issue they stepped in on June 25th and are here again, yesterday. The demand for upside exposure is high including the Dec 67.50 call, of which we account 100,000 of the contracts as bought by a single order. We have been waiting to see shorter duration paper in the space to indicate a move is closer, lacking that but we do have the Repeat Offender flow which seems to be enough combined with the stock looking to close above recent resistance levels. Worth noting old support is in line with the 50day-SMA here call it $47.25 and the big E’ are due on the 29th (Wed BMO) with a $3.80 implied move using the ATM straddle right now. 

This is “not tech” and my opinion is that a longer duration rotation is due. This week is loaded, so be careful out there.

Trade Confidence =5

Trading Style = Long Call

Buy the 18December BSX 50 Call for a cost of $4.70.

BSX is trading at $46.54.