Amgen (AMGN, $84.44, up $0.01) has been pushing 52-week highs recently and we used the momentum to play a call option on the stock a week ago. We closed half of the trade 2 days later to lock-in profits on the run past $84 and our Hard Stop on the other half of the trade was hit at the open this morning.
We are a little disappointed to be out of the trade but we made a quick 35% in 8 days in a choppy, tight trading market. We will keep Amgen on our Watch List to play a continuation to possible blue-sky territory or a pullback to prior support.
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