MomentumOptionsTrading.com Weekly Wrap New Trade (LLNW)/ Profit Alert (NLY)/ (KO) Update for 6/4/2014
I have an update on a current Weekly Wrap trade as well as a New Trade for today and a. Profit Alert.
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Buy Limelight Networks (LLNW, $2.50, up $0.13)
Action: The Weekly Wrap has done several stories on LLNW ahead of this week’s court victory against AKAM. More details to come.
I am recommending shares at current levels but not selling options on this trade. The company is in turnaround mode. Start new positions at current levels.
Coca-Cola (KO, $40.91, up $0.25) strangle option trade
June 40 puts (KO140621P00040000, $0.17, up $0.01)
Original Entry Price: $0.50 (4/24/14)
Exit Target: $1.20
Stop Target: None
Action: Close the put options at current levels. I want to leave the call options open.
To save some premium, I said if shares cleared $41, to close the June 40 puts. KO kissed this level on Tuesday. If shares can clear $42, the trade should break even.
Annaly Capital Management (NLY, $11.55, down $0.09) stock trade
Original Entry Price: $11.39 (4/24/14)
Lowered Price from Selling Options/ Dividends $11.39
Exit Target: $15
Stop Target: $10
Current Dividend Yield: 10.3%
Action: Close the position at current levels as shares could test $11.25-$11 over the near-term and where I will look to reestablish a position.