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Buy Call BSX

May 18, 2023
Buy the Boston Scientific (BSX) November 55 Calls (exp. 11/17/2023) for $4 or less.

As I wrote on Monday morning, the call buying in Boston Scientific (BSX) is everything I look for in a stock. What I mean is the sizes of the call buys were large, and traders bought steadily for days/weeks. Throw on top of that the stock has been a steady riser, and I was intrigued.

Fast forward a couple days and the market is now showing signs of life as the Nasdaq has blasted higher, while the S&P 500 is strengthening. These somewhat promising signs for the market, as well as a bullish day in terms of overall option activity, lead me to believe it’s time to add a new position to the portfolio.

To execute this trade you need to:
Buy to Open the BSX November 55 Calls

The most you can lose on this trade is the premium paid, or $400 per call purchased.

The risks I see in this trade are general market/sector risk. And along those lines, it’s absolutely possible that the market could unwind again at any moment as the regional banks are still a worry, and breadth has been suspect at best. That scenario could certainly hurt our BSX calls.

That being said, should the market get in gear, BSX has the look of a stock that could be on the verge of breaking out, and given the bullish option activity and reasonable price of this November call, I am going to add BSX to the portfolio today.

PositionBSX November 55 Call
Position StrategyBuy Call
Opened DateMay 18, 2023
ExpirationNovember 17, 2023
Net Price3.36
Jacob Mintz is a professional options trader and editor of Cabot Options Trader. Using his proprietary options scans, Jacob creates and manages positions in equities based on unusual option activity and risk/reward.