Quick Thoughs on Align Tech ( $ALGN ) Trade

Align Technology ( $ALGN ) came to my attention last week, when the stock bested estimates for earnings, raised guidance, and closed up 12% - it was actually up 20% at times. The company is growing top line 30%, has $600 mil in cash & equivalents, and looks to to continue the growth in Quarter 2.

Yesterday the company announced a $50 million accelerated stock purchase plan in addition to the $300 million they already have authorized to buyback shares. I saw the stock moving higher today and added some May strikes to play for a 'bat signal' move, meaning a re-test of it's all time high paint of $145.24.

Will look to close some of my $140 calls at some point for 100% and hold the rest for 500%+ - could certainly test $150 on a breach of that $145 level. [*Update: Already out original $140 call for $170%, riding rest as 'freebies'*]Call me crazy, but this stock and move remind me of Boston Beer ( $SAM  ) when it was $110 and before it hit $350: https://www.optionmillionaires.com/boston-beer-sam-cracks-new-highs-yet/

Stay tuned for updates - here is the breakout chart:

ALGN 5-4-17

Happy Trading!


JimmyBob (Scott)has been trading equities for over 15 years, a majority of which were OTC micro-cap stocks. He started trading high risk stock options over the past 7 years, and has proven winning trades in excess of 15,000%.

As one of the Co-Founders of optionmillionaires.com, Scott enjoys sharing his knowledge with other investors through timely blog posts, daily watch lists in the forum, weekly webinars, and helpful advice within the chatroom.

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