The Consumer Discretionary Sector (XLY) has gained 7.41% since starting a nice bullish trend in early February. As one of the strongest performing sectors, our DailyPlay is General Motors Company (GM).
GM has been in a bullish trend since the beginning of February and crossed above its $35.72 support level a few weeks ago. GM is showing positive momentum as it approaches its 52-week high. We are looking for GM to continue this bullish trend higher.
The trade we recommend is to buy the April 17th $37/40 Call Vertical, which is currently trading at a mid-price of $107 per contract. However, we advise against paying more than $125 per contract.