Here is what I am looking at today. Deere & Co. (DE) is starting a trend up and has the potential for a great trade. I have also included an update on a previous trade example at the bottom of this message.

Let’s look at DE as an example of how options work and the advantages they offer. In this case we are going to focus on True Strength Index (TSI), a powerful indicator that generates signals that help you spot great trades. You can get a great explanation of TSI here and learn more about how to use it effectively.

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You can see on the chart above that the TSI Indicator is at the 0 line and heading up, telling us it has bullish momentum. Whenever we are preparing to enter a trade, we look for confirmation that the move is solid and the likelihood of it continuing in the intended direction is high.

In this case, a move to $412 is the confirmation we are looking for. If that happens, we will look at a target of $420 and even higher.

Options are very effective trading tools as they offer leverage. As an example, if you bought one Call option contract covering 100 shares of DE’s stock with a May 17th expiration date for the 410 strike, the premium would be approximately $15.80 per share, or a total of $1580 for the contract of 100 shares.  If price rose the expected $8.00 over the next few weeks, the premium would likely increase approximately $4.00 to $1980. This is a gain of 25% profit.  That would be a nice trade over a short period of time!

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Last week we discussed buying DVN calls. On 4-3 the May 17th 52.50 call was $2.35. You could have sold on 4-9 for $3.20, a 36% profit.