Xilinx Inc. - XLNX - close: 46.43 change: +0.92

Stop Loss: 44.99
Target(s): 49.85
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
July has been a very good month for semiconductor stock XLNX. Shares rallied the two weeks in front of its earnings report. The company reported on July 17th and beat estimates. Management then raised their revenue guidance. This positive news sent shares soaring the next day. Since then XLNX has been digesting gains in a sideways consolidation but with today's bounce the stock looks poised to breakout again.

We are suggesting a trigger to buy calls at $46.65. If triggered our target is $49.85. I would keep our position size small since bears could argue that XLNX is overbought with a significant five-week rally already underway.

Trigger @ 46.65 *small positions*

- Suggested Positions -

buy the Aug $46 call (XLNX1317H46) current ask $1.08

Annotated Chart:

Entry on July -- at $---.--
Average Daily Volume = 3.5 million
Listed on July 25, 2013