DE bullish play

#Earnings I was looking at a #DoubleCalendar, ATM going for about 1.50, but didn’t want the risk as I think a bigger than average move may be possible. Market is crazy bullish at the moment, entirely Trade-War driven. So I looked at an OTM call calendar at 160. The front calls don’t even have a bid, so, I just went with the “buy” half of the Calendar…

Bought to open $DE May 24th 160 calls for .18.

Looking at the daily chart, DE was close to 170 just a couple weeks ago. Unless the report is bad, I believe it has a good shot at a large move tomorrow, or even a further drift upward into next week, when these expire. It is a much better risk/reward play in an uncertain market. Needs any move up to be profitable, and about a 9% move up to be ATM.