The Stop Limit of $0.65 triggered on the KKD November 16 puts.
Dear Momentum Options Subscriber,
I had a feeling that our Krispy Kreme Doughnuts (KKD) trade could get stopped out given the market’s strength today. Shares are making a run at $18, and the move has triggered our Stop Limit.
Krispy Kreme Doughnuts (KKD, $17.88, up $0.35)
KKD November 16 puts (KKD151120P00016000, $0.60, down $0.15)
Entry Price: $0.60 (8/6/2015)
Exit Target: $1.20
Stop Target: $0.65 (Stop Limit)
Action: The Stop Limit of $0.65 has triggered on today push to resistance, and we are now out of the KKD November 16 puts.
I would love to see shares make another run at $20 ahead of earnings in early September for another possible opportunity to go “short” with put options. If $18 holds this week, we could come back to this name, but, for now, we are out of KKD.
All prices given in this update are current as of 1:50 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.
Editor and Chief Options Strategist