The Stop Limit at $0.63 was triggered on the AXP April 62.50 calls.
Dear Momentum Options Subscriber,
I have a Profit Alert this morning for one of our current positions that has pulled back slightly today. Although I’m disappointed that our gains weren’t bigger, a profit is a profit, and this exit will allow us to move on to faster-moving trades.
American Express (AXP, $61.23, up $0.01)
AXP April 62.50 calls (AXP160415C00062500, $0.72, down $0.02)
Entry Price: $0.60 (3/11/2016)
Exit Target: $1.20
Stop Target: $0.63 (Stop Limit)
Action: The Stop Limit at $0.63 triggered on today’s pullback in the stock to $60.85, and we are now out of the position.
The options have traded in a range between $0.58 and $0.73 today. I will keep AXP on my watch list for another possible re-entry point, but, for now, we are out.
All prices given in this update are current as of 11:25 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