Bail out if the price goes below $49, hold calls for price to hit $52. If it does that soon, I'll fish for a double, if I have to wait to end of June, not much of a trade. Delta is .57, so it's $.57 on the dollar in the near term.
It's an offset to my put position in IWM puts, with a delta of .44. Not a straight match, but one that I think will work.
MDT's recent bounce was just enough to turn it up from a bearish P&F chart (daily, box =1, reversal =3). At 52, it has the chance of strengthening on the P&F chart if it can get over it, but it is the level of its bearish breakout to the downside. So, a tussle at 52, and I won't give back much if we get there and pause.