ACTIONS:

Buy to open the BAC March 13 calls (BAC160318C00013000, $0.40, down $0.03) at current levels.

Buy to open the BAC April 14 calls (BAC160415C00014000, $0.30, down $0.03) at current levels.

Dear Momentum Options Subscriber,

I have two New Trades this afternoon on a financial name to play a short-term rebound in the sector.

 

Bank of America (BAC, $12.25, down $0.02)

Buy to open the BAC March 13 calls (BAC160318C00013000, $0.40, down $0.03) at current levels.

Buy to open the BAC April 14 calls (BAC160415C00014000, $0.30, down $0.03) at current levels.

Action: I like both of these call options at current levels.

You can use a Limit Order up to $0.45 to get into the BAC March 13 calls, and you can use a Limit Order up to $0.35 to get into the BAC April 14 calls.

The BAC March 13 calls are the regular March options that expire on March 18, and the BAC April 14 calls are the regular April options that expire on April 15.

I will provide the parameters for both trades in tomorrow’s Pre-Market Update.

 

All prices given in this update are current as of 3:05 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