Buying VRTX call contracts.
Vertex Pharma (VRTX) is a profitable biotech company that develops smll molecule drugs for serious diseases.
Shares have traded sharply higher over the last few months, but the stock is still a relatively attractive value compared to expected profits.
A recent pullback gives us a chance to buy calls close to the key 50-day average support line.
Buying call contracts at this level gives us a chance to profit if VRTX moves back towards its recent highs. And buying in-the-money call contracts helps manage risk as these calls will retain some value even if shares pull back.
- Buy (to open) 5 VRTX March 18th $210 Calls
- Limit $30.00 or less
- The new position will represent roughly 10.8% of our Spec Model capital
- 15:54 Executed
- Bot 5 VRTX Mar 18th $210 Calls @ $27.45