ACTION:

Sell to close the first half of the OPK March 7 puts at current levels.

Dear Momentum Options Subscriber,

I have a Trade Alert this afternoon for the first half of our position in the Opko Health (OPK) March 7 puts. I’m electing to leave the second half of the trade open for now, as the company is scheduled to report its latest earnings numbers next Tuesday, March 1.

 

Opko Health (OPK, $9.16, up $0.34)

OPK March 7 puts (OPK160318P00007000, $0.08, down $0.04)

Entry Price: $0.35 (1/25/2016)

Exit Target: $0.70

Return: -77%

Stop Target: None

Action: Sell to close the first half of the OPK March 7 puts at current levels.

I still want to keep the second half of the trade open in case earnings come in shy of estimates. In the meantime, I’m placing the remaining half of the trade on hold until further notice.

 

All prices given in this update are current as of 2:20 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