2 Bullish Option Plays You May Want To Consider

Looking for an option play to make? Here are a couple of bullish suggestions from Seeking Alpha (I love that site). Just make sure you check out the stocks for yourself before investing your hard earned money.

We have found two Utility stocks that are bullish and offer a great opportunity for option plays. We like a re-sale options strategy for both of these stocks.

Black Hills Corporation (BKH)

Black Hills Corporation, together with its subsidiaries, operates as a diversified energy company primarily in the United States. The company operates through six segments: Electric Utilities, Gas Utilities, Oil and Gas, Coal Mining, Energy Marketing, and Power Generation. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 201,000 customers in South Dakota, Wyoming, Colorado,

and Montana. This segment generates electricity from coal, gas, and oil. It also provides natural gas to approximately 34,500 customers in Wyoming.

As late as February 6th there were numerous non-open market acquisitions. With the price of the stock just pushing through the wedge formation it created, it is set to continue to move up. It is expected to push through its 35.00 targeted high past analysts’ expectations.

Options Play

The best strategy for BKH looks like a straight options purchase. We may get a bounce on the stock here soon. Look at buying a May 2012 ’40’ Call option (presently priced at $0.30), we are looking at a resale strategy here of the option as the stock continues to move up. Having pushed through the wedge, we are expecting a possible test of the trend line and then a continued move up.

New Jersey Resources Corp. (NJR)

New Jersey Resources Corporation, an energy services holding company…

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