Apple (AAPL) does a lot of deals with companies that are hard to track. When they partner with a company, it’s for good reason. An example is Energous (WATT), and Apple may be partnering with the company because it loves its technology, WattUp.

With the official iPhone 7 upgrade announcement from Apple slated this month or next, WattUp is expected to be an integral component that will allow any type of device to recharge wirelessly from distances of up to 15 feet.

WATT’s 52-week high is at $11.18, and I’m expecting a run to blue-sky territory by mid-May. Tuesday’s surge past $8 looks great, and a close above $8 would be a very bullish development.

But I want traders to get involved in the Energous story now, and I recommend the following:

Buy to open the WATT May 10 calls (WATT160520C00010000) at current levels.

My Exit Target for the calls is $1.60-$2.40, and I do not have a stop loss in place.

If you want a little more time, I suggest you take a look at the WATT August 12.50 calls (WATT160819C00012500). These calls are longer-term options that can be used to play the possible run in Energous shares toward $15 by the end of the summer.

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