Jeff Kilburg sets up a trade in the software stock ahead of earnings.
As AI investors potentially look to book profits and rotate out of the "Magnificent Seven," I want to look at the battered-n-bruised software sector as an opportunity to buy an outperforming, standout name. Oracle , one of the top three largest U.S. based software companies, report earnings next week on June 11. I want to utilize an options strategy to create income and capitalize on ORCL moving higher.
mountain Oracle vs. the S & P 500 YTD Technically, Oracle is revealing strength as it sits above both its 50-day and 200-day moving averages. However, it is not showing any signs of being overbought with a Relative Strength reading of just 58. . Oracle's 52-week and all-time high is $132, a level that has the ability to be retested in Q3. In the event it is not, I am happy to add to my position and own more Oracle at a lower price for the longer term.
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