STX is running back up after it hit support in the 20's. Partially attributed to the shorts covering and buying interest. I would expect it to test or break through resistance around 22. The pattern is displayed in the last couple of rallies.
Today's purchase:
10 contracts of June 22.50 STX @.10
If it continues to run up as shown on the chart, this option can reach $1.10, which would result in a $1.00 gain x 10 contracts (1000 shares). It's a good risk to reward in my opinion (certainly I am speculating, but not risking much).
4 more days of option trading for the month. Updates later.
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