MomentumOptionsTrading.com Weekly Wrap Profit Alert (KOG) for 6/26/2014
The Weekly Wrap closed two more winners on Tuesday to run the track record to 18-4 for the year.
The whipsaw action in Kodiak Oil & Gas (KOG, $14.25, up $0.53) has been brutal following a test to $15 on Monday and then $13.63 on Tuesday.
I will keep the stock on my Watch List for a possible reentry above $15 but for now, the volatility needs to settle before getting into new positions.
The Weekly Wrap Closed Trade Track Record for 2014 is 18-4, or 82% win rate (103-11, or 90% win rate, overall since the start of 2011)
Kodiak Oil & Gas (KOG, $14.25, up $0.53) Stock Trade
Original Entry Price: $13.25 (4/14/14)
Lowered Price from Selling Options: $13.25
Exit Target: $15 (closed at $14 on 6/24/14)
Stop Target: $14 (Stop Limit)
September 15 calls (KOG140920C00015000, $0.80, up $0.10) LEAP Trade
Original Entry Price: $.0.72 (4/24/14)
Exit Target: $1.45 (Closed half at $1 on 6/23/14, half at 75 cents on 6/24/14)
Stop Target: 75 cents (Stop Limit)
Action: Shares made a nasty backtest to $13.75 on Tuesday after falling below $14 and triggering the stop limit. Although there was a rebound on Wednesday, the trade is officially closed.
For the option trade, I suggested closing half the trade at $1 on Monday to lock-in profits. The Stop Limit of 75 cents on the other half was triggered on Tuesday as well.