I’m not one to get caught up in the hoopla of earnings season, but my Power Stocks scanner has found that some of the best stocks for options trading are reporting early this week. The ones that caught my attention 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.

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 and volatility levels my scanner has detected for these stocks. The average level of volatility is 20.

Reporting Monday, April 29

• Biogen Idec (NASDAQ:BIIB) has confirmed its upward trend after pulling back briefly on Wednesday—so much so in fact, that it might be worth taking profits if you own it. It’s trading around $214, a healthy bit above support at $186, and volatility is about average at 25.

Reporting Tuesday, April 30

• Avon Products (NYSE:AVP) is reporting earnings on Tuesday, April 30. The stock is a powerhouse among the many that I follow, so I anticipate it will jump up from support around $21 in a move that will make options traders very happy. Volatility is rated 40, double the average.
• Aetna (NYSE:AET) also reports on Tuesday. It’s showing a “reestablished buy” pattern in which the stock has confirmed its upward trend after a temporary pullback. Such a bounceback is one of the most reliable buy signals. Volatility for AET is rated 27, and it’s well above the resistance of $52.

Reporting Wednesday, May 1

• Merck (NYSE:MRK) is just beginning its uptrend, trading just $2 above resistance of $45. Volatility, at 16, is below average so expect this one to churn steadily upward rather than jump suddenly.
• Novo Nordisc (NYSE:NVO) is a perfect pick if you’re looking to get ahead of the trend. It’s sitting right at resistance at $169, so you can get in without chasing the price.
• General Motors (NYSE:GM) is in such a strong uptrend that I found an options play to take advantage of it. I anticipate that the stock will pop to  $32 in the intermediate-term.

Keep an eye on these names next week. All are great candidates for call option trading.

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