This Beaten-Down Tech Stock Could Double Your Money

The recent decade-long-plus highs in technology stocks have left out some old standbys that need to tweak and reinvent their business plan. Hewlett-Packard (NYSE: HPQ) has dropped from highs near $50 in 2011 to trade at the lowest levels since 2004.
The three-month trading channel shown on the chart below between $17 and $20 looks attractive for a price breakout from the base action. A rally above the resistance top projects a $3 move, the width of the channel, to $23. Only a weekly close below $17 would negate the technical basing pattern.

The initial upside objective of $23 is 30% above the current stock price, but there is a way you could potentially double your money with a stock substitution strategy.
One major advantage of using long options rather than buying shares is putting up much less to control 100 shares -- that's the power of leverage. But with all of the potential strike and expiration combinations, choosing an option can be a daunting task.  (more)