2:15 p.m. (EST)
We have a New Trade we are getting into on a stock that is no stranger to our portfolio. The company was left for dead a few years ago and we have been talking about the turnaround story in recent months.
Shares are just above $57 and the 52-week high is at $58.21. A move above this level will get the stock into blue-sky territory and the call options we are using should easily double for a sweet 100+% return.
Subscribers, check the Members Area for the New Trade!!!
Closed Trades for 2014: 34-18 – the Weekly Wrap is 12-3 for 2014 (97-10, or 91% win rate, since 2011) and is designed for traders that want to use options with less risk.
Do not risk more than 5% of your trading account on any one trade but do try to take ALL of the trades. Please remember, ALL “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any tradesor “Exit Orders” in your brokerage account unless we list one. We will send out a “Profit Alert” or “New Trade” if we want you to close a position OR if a new trade comes out. Otherwise, follow instructions at all times in the 9am and 1pm updates. Also, we will usually give you a heads-up if we think we are going to send an email outside of these time frames.
Garmin (GRMN, $57.07, up $0.29)
Buy to OPEN May 62.50 calls (GRMN140517C00062500, $0.65, up $0.10)
Action: We like these call options at current levels as shares look poised to clear $60 over the next week or two.