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Options Trading Idea Ahead of Earnings for $MU

Technically, the chart looks phenomenal! From the Dynamic Trend Indicator (available on Alphashark.com or email [e-mail] for link) $MU meets all the criteria for a long or if already long stay with the trend. The multiple time frame analysis confirms positive momentum with price above the wave. Overhead resistance is at 32.93 which MU is knocking on currently on the path to new highs. Usually when a stock is approaching new highs weak hands will try to short it leading to a breakout on volume to new highs as the shorts will have to cover. Remember, we want to be strong hands as smart traders and not fight the trend!

As of June 24th, 2017, MU is trading at 31.75 with the expected move for June 30rd option expiration is $3.00 I can find the expected move by adding the ATM straddle for the week of expiration. Therefore, if I add 31.75 + 3.00 = 34.75 as an upside target for an options play expiring on June 30th expiration.

Get Full options Trading Idea and charts for $MU HERE >>>