Take profits and sell to close the first half of the MSFT December 57.50 puts at current levels.
Dear Momentum Options Subscriber,
I have a partial profit alert this afternoon for one of our current positions that is showing a nice gain.
Microsoft (MSFT, $58.28, down $1.89)
MSFT December 57.50 puts (MSFT161216P00057500, $1.26, up $0.64)
Entry Price: $0.86 (11/1/2016)
Exit Target: $1.75
Stop Target: None
Action: Take profits and sell to close the first half of the trade at current levels.
Fresh support is at $58. Resistance is at $58.75-$59.
I hereby disclose that I will be participating in the aforementioned trade(s).
Editor and Chief Options Strategist