Due to the change in categorization of high blood-pressure, I want to do a long play on NVS.  They aren't particularly cheap at $83 but I feel good about the premise that they'll get more business and have good quarters moving forward.  So for the LTP:

• Sell 5 NVS 2020 $75 puts for $5 ($2,500) 
• Buy 10 NVS 2020 $80 calls for $9.20 ($9,200) 
• Sell 10 NVS 2020 $100 calls for $2.25 ($2,250) 

So that's net $4,450 on the $20,000 spread that's $3,000 in the money to start and we'll see how it goes and probably sell some calls along the way.  This is just a small position to remind us to watch it but, if it takes off, it's still good for $15,550 (+300%) so fine either way.

Want to see more?

Reap the benefits of one of our paid membership plans and get access to articles like these PLUS:

• Insightful daily market reviews
• Educational guides and posts
• Access to our Virtual Trading portfolios
• Unique trading opportunities
• LIVE trading webinars
• Intraday market commentary from Phil
• Our community of traders