Take profits and sell to close the first half of the QQQ November 120 calls at current levels.
Dear Momentum Options Subscriber,
I have a partial Profit Alert for our current trade in the PowerShares QQQ ETF (QQQ), as I’m electing to lock in profits on the first half of the trade.
PowerShares QQQ ETF (QQQ, $119.13, down $0.44)
QQQ November 120 calls (QQQ161118C00120000, $1.30, down $0.12)
Entry Price: $0.99 (10/13/2016)
Exit Target: $2.00 (Limit Order on half)
Stop Target: $1.10 (Stop Limit)
Action: Take profits and sell to close the first half of the QQQ November 120 calls at current levels.
Support is at $118. Resistance is at $119.50-$120.
I hereby disclose that I will be participating in the aforementioned trade(s).
Editor and Chief Options Strategist