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Trade of the Day: VMware (NYSE:VMW)

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Today, we’re opening a new bullish trade on VMware (VMW). VMW has been a strong bullish performer in the aftermath of its last two earnings announcements, and we expect more of the same this quarter, as the company reports its earnings on Wednesday, Oct. 26, after the market close.

VMW confirmed last week that it has entered a partnership with Amazon (AMZN) to offer VMW’s vSphere platform on AMZN’s AWS. The product, titled “Vmware Cloud on AWS,” will be offered to companies looking for on-demand scaling for their online operations and will be operated and sold by VMW. This could be a huge money-maker for the company and, coupled with the stock’s relatively low earnings multiple compared to its peers, should be a great bullish opportunity for investors.

The stock has been consolidating in a relatively tight range for nearly two months, which means there is a lot of potential energy building up that we expect will send the stock back up above its recent high around $77.50 when the company reports its earnings.

Buy to open the VMW November 75 Calls (VMW161118C00075000).

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.

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