Take profits and sell to close the RMBS March 13 calls at current levels.
Dear Momentum Options Subscriber,
I have a Profit Alert for one of our current trades as the Stop Limit for our RMBS position has triggered.
Rambus (RMBS, $13.19, down $0.03)
RMBS March 13 calls (RMBS160318C00013000, $0.41, down $0.05)
Entry Price: $0.35 (2/2/2016)
Exit Target: $0.70
Stop Target: $0.38 cents (Stop Limit)
Action: The Stop Limit at $0.38 cents has triggered following the stock’s dip to $13.12 this morning. The puts have traded to a low of $0.34 cents.
I could come back to RMBS if support at $13 continues to hold, but for now, I’m out.
All prices given in this update are current as of 11:15 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.
Editor and Chief Options Strategist