Buying INTU call contracts.
Intuit Inc. (INTU) is a profitable tech company that offers accounting and marketing services to businesses.
The stock has been under pressure as growth stocks have fallen out of favor. But INTU is actually being unfairly lumped into this category. The company is actually very profitable and has a sustainable and lucrative business model.
Today, shares appear to be bouncing off a key support level that coincides with the 200-day average. This could be the start of a very strong rebound that could hand us large gains very quickly.
Buying call contracts at this point gives us exposure to a quick rebound, while also giving us a clear line of support below. If this support level is breached, we can exit the position for a reasonable loss and move on to other opportunities as they evolve.