$1.00 Stop Limit triggered on the remaining 2/3-sized position in the SPY July 200 weekly puts.

Dear Momentum Options Subscriber,

I have another Profit Alert as we wind down the month of June, as we have now been stopped out of our SPY trade.


S&P 500 SPDR ETF (SPY, $206.25, up $0.73)

SPY July 200 weekly puts (SPY150710P00200000, $1.00, down $0.25)

Entry Price: $0.45 (6/19/2015)

Exit Target: $3.00 (Limit Order at $3.00 on remaining 2/3-sized position)(closed 1/3 at $0.80 on 6/29/15)

Return: 107%

Stop Target: $1.00 (Stop Limit)

The Stop Limit of $1.00 has triggered on today’s rebound past $207, and we are now out of the SPY July 200 weekly puts. I could use another put trade to play further weakness if today’s rally fades, but, for now, we are out. Today’s high on the puts has been $1.02.


Side Note: The UPS July 105 calls were closed at $0.08 on the open this morning. They have traded to a high of $0.09 today.


All prices given in this update are current as 10:30 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