MomentumOptions.com Profit Alert (SQ) for 5/3/2017

11:20am (EST)

I have a Profit Alert for Square (SQ) as shares are pulling back ahead of earnings. I will cover the company’s numbers this afternoon, but for now, we are out of the trade.

Square (SQ, $18.18, down $0.62)

SQ June 18 calls (SQ170616C00018000, $1.40, down $0.30)

Entry Price: $0.95 (4/20/2017)
Exit Target: $1.90 (closed half at $1.20 on 4/28/2017)
Return: 37%
Stop Target: $1.40 (Stop Limit)

Action: The Stop Limit at $1.40 on the other half of the trade has tripped on today’s pullback.