Cree (CREE), Inc. is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The Company has three segments: Lighting Products, LED Products, and Power and RF Products. The Company’s Lighting Products segment offers LED lighting systems and bulbs. The Company’s LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Company’s Power and RF Products segment offers power devices and RF devices. The Company designs, manufactures and markets lighting systems for indoor and outdoor applications, with a focus on LED lighting systems for the commercial, industrial and consumer markets.
I’ve been following Cree for many years and made many options and stock trades with the company. Today Cree received an upgrade from J P Morgan moving their rating from “Market Perform” to “Outperform.”
Today I bought 500 shares of the stock at $57.70. I’m hoping to sell a Call against these shares with a Strike Price of $58 or $58.50, and the Expiration Date of this Friday, 3/22 or next Friday, 3/29.
Buy 500 Shares CREE @ $57.70
I’ll be watching the stock closely today. If it goes up today I might get an option sold to expire this Friday. If not, I’ll watch tomorrow and probably go out to next Friday.
Steve
The Options Coach