Qualcomm (QCOM)

Feb 8, 2021Trade Ideas

On Thursday, we highlighted an opportunity with the DIA March 19, 2021 310 calls. Those should be doing well, with the Dow Jones now up to 31,282.

On Friday, we highlighted an opportunity with Take-Two Interactive (TTWO), noting, “Investors can buy the TTWO stock at market, and, or buy to open the TTWO March 19, 2021 210 calls. To hedge, investors can use the TTWO March 19, 2021 200 put.”

Today, TTWO is up to $214, so most of those trades should be doing well, too.

Today, we’re finding an opportunity with Qualcomm (QCOM).

After a brief pullback, QCOM appears to have caught support at $146.20. From here we’d like to see it refill its bearish gap around $170, especially with its 5G catalyst. In fact, Qualcomm may qualify as one of the best 5G stocks to own thanks to its next-generation chips. Most recently, the company forecast strong sales and profits thanks to 5G.

There are a few ways to trade QCOM.

One is to buy the stock at market. And, or buy to open the QCOM March 19, 2021 150 calls at market. Traders can hedge with the QCOM March 19, 2021 145 put.


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