We have a new buy alert that has triggered.

Our Hot Money monitor just spotted a massive amount of new call option contracts purchased, betting shares in this underlying will soar higher.

Here's what I’m doing...

Buy-To-Open the Melco Resorts & Entertainment Limited (NASDAQ: MLCO) May 21, 2021, $19 call (MLCO210521C00019000).

At last glance, these calls are trading at $0.85 x $0.90 per contract.

My profit target will be around $1.17 and our stop-out price at $0.54 per contract.

Now, let’s manage our risk before entry and I’ll keep you updated every step of the way.

To your wealth, freedom, and options!

Joshua M. Belanger