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Today, we’re opening a new bullish trade on Verizon (VZ). The market rallied on news that “Helicopter” Ben Bernanke is advising Governor Kuroda from the Bank of Japan following the re-election of Shinzo Abe’s coalition government.

A weaker yen is a possibility, which could drive stock prices higher in the short-term, but we aren’t convinced yet that the unconfirmed highs on the S&P 500 will hold. However, the market does look positive enough to add some bullish diversification to the portfolio through VZ calls.

The advantage here isn’t just a technical breakout — the stock is both defensive and growth-oriented, which is rare. We think rates are likely to stay low, which should be a positive for dividend-payers.

And the growth aspect makes the stock more attractive to bulls that are still a little shy about some of the big momentum names.

Buy to open the VZ August 55 Calls (VZ160819C00055000).

You can learn more about identifying price patterns and using them to project how far you think a stock is going to move in our Advanced Technical Analysis Program.

InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered Market Technician (CMT) designees, are co-founders of LearningMarkets.com, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by clicking here.