ACTIONS:

Take profits and sell to close one third of the RAD July 8 calls at current levels.

Take profits and sell to close one third of the RAD October 9 calls at current levels.

Dear Momentum Options Subscriber,

I have Profit Alerts on two of our current trades following an incredible two-day gain in the stock that has pushed our options up by around 50%.

 

Rite Aid (RAD, $8.94, up $0.30)

RAD July 8 calls (RAD150717C00008000, $1.00, up $0.20)

Entry Price: $0.65 (6/9/2015)

Exit Target: $1.30

Return: 54%

Stop Target: None

 

RAD October 9 calls (RAD151016C00009000, $0.80, up $0.10)

Entry Price: $0.55 (6/9/2015)

Exit Target: $1.10

Return: 45%

Stop Target: None

Take profits and sell to close one third of both call options. I will provide more details about why we are taking partial profits in this afternoon’s Mid-Market Update.

 

All prices given in this update are current as 10:15 a.m. EST.

I hereby disclose that I will be participating in the aforementioned trade(s). Every new Momentum Options recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.

Trade on!

Rick Rouse
Editor and Chief Options Strategist
Momentum Options