ACTION:

The Stop Limit of $0.85 has triggered on the second half of the WFC October 60 calls.

Dear Momentum Stocks Weekly Subscriber,

I have a Profit Alert on the second half of our option trade in Wells Fargo (WFC). Although I’m disappointed about today’s pullback, the trade generated a 38% average return in a little over a month.

 

Wells Fargo (WFC, $57.00, down $0.26)

WFC October 60 calls (WFC151016C00060000, $0.80, down $0.10)

Entry Price: $0.67 (5/5/2015)

Exit Target: $1.35 (closed first half at $1.00 on 6/10/15)

Return: 38%

Stop Target: $0.85 (Stop Limit)

The Stop Limit of $0.85 has triggered on the second half of the WFC October 60 calls on today’s dip in the common stock to $56.75. I will likely come back to WFC, as I do believe that a run past $60 is coming. For now, however, we are out of the position.

 

All prices given in this update are current as 3:45 p.m. EST.

I hereby disclose that I will be participating in the aforementioned trade(s). Every new Momentum Stocks Weekly 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!

Signed

Rick Rouse
Editor
Momentum Stocks Weekly