ACTION:

The Stop Limit at $0.33 was triggered on the BAC April 14 calls.

Dear Momentum Options Subscriber,

I have a Profit Alert for one of our current positions this morning, as shares of Bank of America (BAC) opened today’s session lower. The common stock’s trip to $13.37 was just enough to trigger the Stop Limit on our calls.

 

Bank of America (BAC, $13.52, down $0.02)

BAC April 14 calls (BAC160415C00014000, $0.36, down $0.02)

Entry Price: $0.30 (2/9/2016)

Exit Target: $0.60

Return: 10%

Stop Target: $0.33 (Stop Limit)

Action: The Stop Limit at $0.33 was triggered on the BAC April 14 calls, as they traded to a low of $0.32 this morning.

If shares clear $13.75 again, there may be another opportunity to get back into these call options. I will keep BAC on my watch list for a possible re-entry point, but, for now, we are out of the position.

 

All prices given in this update are current as of 10:15 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.

Trade on!

Rick Rouse
Editor and Chief Options Strategist
Momentum Options