Momentum Trades Using Options

I entered three new positions using call options: Celgene (CELG) April 2015 $125.00 call for $6.35 Skyworks Solutions (SWKS) May 2015 $70.00 call for $8.21 U.S. Oil ETF (USO) October 2015 $15.50 call for $3.55

The genesis for my first two choices: CELG is continued upward chart pattern and support along 10-week moving average. SWKS is coming out of some consolidation and I'm hoping will springboard higher. The choice to dip my toe into USO is strictly based on the huge downward drop. I'm thinking the volatility will level out and prices will begin to level off if not rise.

Options Expiration

Options expiration is this week, so I am expecting at least a few days of increased volatility as people scramble to get in/out of their respective short and long positions. I am looking to sit on the sidelines unless something falls directly into my wheelhouse. I still have my Jun 53 put position in the qqqq's and feel there is some more downward pricing to follow. The Feb 30 calls on the VIX have large volume, so why buck the trend that seems to be presenting itself.

Dead Cat Bounce

Anyone else agree? The U.S. pre-market is scheduled to open higher today, which truly means nothing, as we have seen over the past few months due to the extreme volatility. The rest of the world was down today, yet I think we will close up today, and gap down again on Thursday. I am looking to get long on a few positions if they drop down into my price target. I will look to get these filled today, but most likely they will not get filled until Thursday. Of course, I may be completely of base in my analysis, but time will tell. Stocks on my watchlist still include the telecom plays I posted about earlier, with a few others like: RIO and BOOM.