MomentumOptions.com Mid-Market Update for 3/10/2017

Jobs Report Fails to Impress Wall Street/ New Trade (SBUX)

1:50pm (EST)

Futures were steadily improving throughout the night and were offering good clues this morning’s jobs report would top expectations. February 235,000 jobs gain was well above consensus estimates for 195,000-200,000 jobs added. The unemployment rate fell to 4.7%.

The bulls were able to regain momentum on the open but the indexes have traded in a narrow range since and have given back their gains. Oil prices were also higher in early trading and moved above $50 a barrel. However, the commodity was unable to hold its morning pop and resumed its three-day slide, and is trading at its lowest level in three months.

The Dow is down 14 points to 20,844 while the S&P 500 is flat at 2,365. The Nasdaq is up less than a point to 5,839 and the Russell 2000 is off a point to 1,358.

I have a New Trade I want to get us into so let’s get on it. I could have additional trades ahead of the closing bell so stay locked-and-loaded. If you don’t hear from me again, have a great and safe weekend, snd I will be back Monday morning with a full update.

 

Momentum Options Play List

Closed Momentum Options Trades for 2017: 16-3 (84%). All trades are dated and time stamped for verification. New subscribers can look at the past history to see how the trades have played out or to research our Track Records.

Do not risk more than 5% of your trading account on any one trade but do try to take all of the trades. Please remember, all “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any trades or “Exit Orders” in your brokerage account unless I list one. I will send out a “Profit Alert” or “New Trade” if I want you to close a position or if a new trade comes out. Otherwise, follow instructions at all times in the 8am and 12pm–2pm (EST) updates. Also, I will usually give you a heads-up if I think I’m going to send a Trade Alert outside of these time frames.

New Trade

Starbucks (SBUX, $54.56, down $0.63)

Buy to Open April 52.50 puts (SBUX170421P00052500, $0.40, up $0.08)

Action: I like these put options at current levels and you can use a Limit Order up to 50 cents to get the best fills. These are the regular SBUX April 52.50 puts that expire on April 21st, 2017. I will provide the parameters of the trade in Monday’s Pre-Market update.

 

Current Trades

Advanced Micro Devices (AMD, $13.73, up $0.40)

AMD April 14 calls (AMD170421C00014000, $0.99, up $0.14)

Entry Price: $0.90 (3/7/2017)
Exit Target: $1.80
Return: 10%
Stop Target: 45 cents

Action: Fresh resistance is at $13.75-$14. Support is at $13.25-$13.

 

Amicus Therapeutics (FOLD, $7.48, down $0.05)

FOLD April 8 calls (FOLD170421C00008000, $0.45, flat)

Entry Price: $0.60 (3/2/2017)
Exit Target: $1.20
Return: -33%
Stop Target: None

Action: Support is at $7.25-$7. Resistance is at $7.75-$8.

 

Tower Semiconductor (TSEM, $22.94, down $0.01)

TSEM April 24 calls (TSEM170421C00024000, $0.40, flat)

Entry Price: $0.65 (3/1/2017)
Exit Target: $1.30
Return: -38%
Stop Target: None

Action: Support is at $22.75-$22.50. Resistance is at $23-$23.25.

 

Vuzix (VUZI, $7.32, up $0.07)

VUZI April 7.50 calls (VUZI170421C00007500, $0.60, flat)

Entry Price: $0.50 (2/27/2017)
Exit Target: $1.00
Return: 20%
Stop Target: None

Action: Resistance is at $7.50. Support is at $7-$6.75.

 

Flex (FLEX, $16.62, up $0.12)

FLEX April 17 calls (FLEX170421C00017000, $0.25, flat)

Entry Price: $0.35 (2/15/2017)
Exit Target: $0.70
Return: -29%
Stop Target: None

Action: Resistance is at $16.75-$17. Support is at $16.25-$16.

 

TherapeuticsMD (TXMD, $6.64, down $0.11)

TXMD June 7.50 calls (TXMD170616C00007500, $0.95, flat)

Entry Price: $0.75 (1/18/2017)
Exit Target: $1.50
Return: 27%
Stop Target: None

Action: Resistance is at $6.75-$7. Support is at $6.50-$6.25. Shares traded up to $6.86 yesterday.