ACTION:

Buy to open the QQQ November 110 calls (QQQ151120C00110000, $1.10, down $0.03) at current levels.

Dear Momentum Options Subscriber,

I have a New Trade on the PowerShares QQQ Trust (QQQ) this afternoon as a way to play continued strength in tech. Shares have cleared their 100-day moving average and could make a run to $110 on continued strength.

 

PowerShares QQQ Trust (QQQ, $107.67, flat)

Buy to open the QQQ November 110 calls (QQQ151120C00110000, $1.10, down $0.03) at current levels.

I like these call options at current levels, and you can use a Limit Order up to $1.20 to get the best fills. These are the regular options that expire on Nov. 20.

 

I will discuss the parameters of the trade in today’s Mid-Market Update, which will be ready in about an hour.

 

All prices given in this update are current as of 12:40 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