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We’ve been bullish on Microsoft Corporation (NASDAQ:MSFT) for a while now, and the stock is giving us a great new bullish trading opportunity. The recent move higher established a new 52-week intra-day high for the stock, and we believe the stock is going to continue moving higher.

MSFT’s fundamentals are still incredibly strong. The company’s strong gains in its Productivity and Business Processes (Microsoft Office SaaS, LinkedIn, etc.) and its Intelligent Cloud (Azure, etc.) segments during the past year should continue to boost profits (MSFT is targeting $20 billion in revenue from cloud services by 2018). Plus, the company continues to buyback a massive amount of its own shares, while still providing a dividend yield of nearly 2.4%.

Based on the up-trending channel the stock has been in since last October, we are watching an intermediate price target of $67.50, but wouldn’t be surprised to see the stock climb up toward $70 in the longer run.

‘Buy to open’ the MSFT May 67.50 Calls (MSFT170519C00067500) for a maximum price of $1.05.

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