Bull Put on RIMM

 

Reasoning:
1) Technical indicators are showing buy signals and the recent trend has been in a range.
2) Support at about 132.5 and this is a stock I would not mind owning shares of. Earnings is out of the way.

Expectation is for continued bullish movement to the 140-145 range with bullish long term expectations based on fundamentals.

Entry Point:

May ’07 BULL PUT SPREAD for a NET CREDIT of $0.70 @ strikes 135/130.

Exit Points:
Primary Exit (PE): Let options expire worthless.
Secondary Exit (SE):
Bearish: Add or roll long put in preparation to take assignment for collar.