ACTION:

Take profits and sell to close the first half of the QQQ March 93 puts at current levels.

Dear Momentum Options Subscriber,

I have a partial Profit Alert this morning for one of our current trades that is currently showing a double-digit profit.

 

PowerShares QQQ Trust (QQQ, $100.61, down $1.54)

QQQ March 93 puts (QQQ160318P00093000, $1.40, up $0.45)

Entry Price: $1.00 (2/2/2016)

Exit Target: $2.00 (Limit Order)

Return: 40%

Stop Target: $0.50

Action: Take profits and sell to close the first half of the QQQ March 93 puts at current levels. Given the quick gains and choppy market, I want to protect these one-day profits.

 

All prices given in this update are current as of 11:00 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