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I like HOLX, and I am currently reviewing HOLX calls for a possible trade. Here's the catch. I'm not going to buy calls with the market still in a correction. I'll need to see strong volume on rallies before I put on a longer trade like HOLX. I would be buying HOLX June 75 calls at about $6.00. I'd give HOLX a +25-35% appreciation target, which is managable for this stock. Should HOLX increase by that much, I would be looking for those calls to reach $15-$20 for a nice return. With options, I always use about a -50% stop loss, so I would also set a stop loss at $3.00. But remember, all this would only happen for me at the first sign of a market turn around, and that market rally may only last 1-2 months, but that gives me reason to enter, and should also help HOLX appreciate enough to wither the next wave of correction. Hope that helped.
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