8:00 a.m. (EST)

I had a feeling shares of Apple (AAPL, $98.94, down $4.36) would make a back test following the surge past $100 in recent weeks. While I was hoping $99 would hold, it didn’t, which forced me out of the current Apple trade for the Weekly Wrap.

It was the second profitable trade following the 7-for-1 stock split and, while disappointed I’m on the sidelines, I still love Apple’s stock (and its products).

Perhaps, I can get back in Apple at $95 or sell put options down the road but for now, I’m out.

I also have a Weekly Wrap Profit Alert for Pizza Inn Holdings (PZZI) that made 32% in just under two months.

Stop Limits are great ways to keep your emotions in check as you simply take profits and move on to the next trade.


Weekly Wrap Covered Call Portfolio

The Weekly Wrap Closed Trade Track Record for 2014 is now 25-4, for an 86% win rate (110-11, or 91% win rate, overall since the start of 2011)


Apple (AAPL, $98.94, down $4.36)

Original Entry Price: $98.40 (7/28/14)

Lowered Price from Selling Options/ Dividends: $97.93

Exit Target: $120

Return: 1%

Stop Target: $99 (Stop Limit)

Dividend Yield: 2.1%

Action: Shares traded to a low of $98.58 on Wednesday and the Stop Limit of $99 triggered during the 4% pullback.


Pizza Inn Holdings (PZZI, $7.91, down $0.13)

Original Entry Price: $6 (7/9/14)

Lowered Price from Selling Options: No options available

Exit Target: $12

Return: 32%

Stop Target: $7.90 (Stop Limit)

Action: The Stop Limit of $7.90 triggered on the second PZZI position from early July after shares tested a low of $7.85 yesterday. Continue to hold the other 2 PZZI positions.

Remember, in addition to the new site, you can now sign up for text alerts. The alerts will be sent out whenever a new trade recommendation or other action is needed and will be sent to your smartphone or mobile device.

Make sure you tell your mobile carrier to allow texts from 24587 because some carriers may block our texts. Standard rates may apply. It will also take a few days to complete the registration, so sign up today and look for your first text alerts to begin Sept. 8.

Sign up for Weekly Wrap text alerts by clicking here.

I encourage you to take some time now to create your username and password and look around the site. If you need any help at all, a Customer Service representative is available from 9 a.m. Eastern until 9 p.m. Eastern at 866-507-2942 or you can email: service@momentumoptionstrader.com anytime.

Trade on!

Rick Rouse
Editor and Chief Options Strategist
Weekly Wrap