MomentumOptions.com Profit Alert (GLD) for 6/2/2017

11:25am (EST)

I have a Profit Alert on GLD on today’s run past resistance. Although I would like to push the gains into next week, regular June options expire in two weeks and our call options are still, technically, out-of-the-money.

If GLD stays strong into next week I could use July call options to play continued momentum, but for now, I’m out.

 

Spider Gold Shares (GLD, $121.62, up $0.90)

GLD June 122 calls (GLD170616C00122000, $0.90, up $0.30)

Entry Price: $0.75 (5/22/2017)
Exit Target: $1.50
Return: 20%
Stop Target: None

Action: Close the trade at current levels to lock-in profits.