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MomentumOptionsTrading.com Weekly Wrap Trade Alerts (SONS, EXAS, BAC) for 7/11/13

1:50pm (EST)

We have  3 trades we are taking action on with today’s surge in the market.  We are using August calls to juice the gains for some of our current positions and if we get called away in over a month we will make nice double-digit return.

Subscribers, check the Members Area for the updates.

 

Current Trades

 

Sonus Networks (SONS, $3.08, flat)

Sell to OPEN August 3 calls (SONS130817C00003000, $0.35, flat)

Original Entry Price:  $3.00

Lowered Price from Selling Options:  $3.00

Exit Target:  $6

Return:  1%

Stop Target:  $1

Action:  We are going to sell these options to lower our cost basis to $2.65.

 

Exact Sciences (EXAS, $13.94, up $0.25)

Sell to Open August 15 calls (EXAS130817C00017000, $0.55, up $0.10)

Original Entry Price:  $13.55 (6/11/13)

Lowered Price from Selling Options:  $13.55

Exit Target:  $16+

Return:  3%

Stop Target:  $10 

Action:  Sell the August 15 calls at current levels to reduce the cost basis to $13.

 

Bank of America (BAC, $13.48, up $0.11)

Sell to OPEN August 13.50 calls (WEEKLY) (BAC130802C00013500, $0.36, up $0.04)

Original Entry Price:  $13.15 (6/11/13)

Lowered Price from Selling Options:  $13.15

Exit Target:  $15+

Return: 3%

Stop Target:  $10

Action:  Sell the August 13.50 calls to lower the cost basis to $12.79.