ACTION:

Buy to open the JPM September 70 calls (JPM150918C00070000, $0.80, up $0.08) at current levels.

Dear Momentum Options Subscriber,

I have another New Trade this afternoon on a financial stock that is holding its 50-day moving average.  Shares could be setting up for a run past $70, and I want to play the possible move by using call options.

 

JPMorgan Chase (JPM, $68.67, up $0.62)

Buy to open the JPM September 70 calls (JPM150918C00070000, $0.80, up $0.08) at current levels.

I like these call options at current levels. These are the regular monthly options that expire on Sept. 18, and I will provide the parameters of the trade in tomorrow’s Pre-Market Update.

 

All prices given in this update are current as of 1:05 p.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