6 Call Option Contenders: Tech Stocks

My scanner shows big uptrends in all of these stocks

   

Each week I use my Power Stocks scanner to find the best stocks for options trading. The ones that caught my attention this week had all of the qualities I look for in a call option—the potential for a big move up (volatility) based on technicals and past activity in the stock, and good liquidity. All of these are names you’ll recognize, and for good reason—options which do not have liquidity may trap you into a position, or prevent you from taking a large enough position to make the transaction worthwhile.

The following tech stocks have those qualities I look for. I’ll leave it up to you to decide which strike price and month are appropriate for your trading style, but be sure to give yourself enough time to be right. I’ve also included the support levels my scanner has detected for these stocks.

  • Qualcomm (NASDAQ:QCOM): QCOM is in an upward trend, but is temporarily leveling. Right now it’s trading just under a previous $66 support level.
  • Oracle (NASDAQ:ORCL): This stock has been in an upward trend for over a week, and displays good upside characteristics relative to other stocks. It’s trading about a dollar above its $35 support level.
  • Honeywell International (NYSE:HON): HON is trading about $3 above its $70 support level.
  • IBM (NYSE:IBM): IBM is one of the strongest stocks I track, and is rocketing upward. Currently it’s at $214, well above its $202 support level.
  • Cisco (NASDAQ:CSCO): CSCO is trading right at its $21 support level, which signals an attractive entry point.
  • Pitney Bowes (NYSE:PBI): PBI is trading about a dollar above its $14 support level.

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