MomentumOptions.com Mid-Market Update for 7/20/2017

Tech Going for 10-Straight/ Profit Alert (T)

12:40pm (EST)

The Nasdaq is trying to extend its win streak to 10-straight with the index higher heading into the second-half of action. Trading has been somewhat choppy but all-time highs have been set intraday, excluding the Dow.

There are a number of high-profile companies reporting after today’s closing bell that should shape trading for Friday’s session. E*Trade Financial (ETFC), eBay (EBAY), Microsoft (MSFT), Skyworks Solutions (SWKS) and Visa (V) are the most notable companies reporting numbers this evening.

The Dow is down 25 points to 21,615 while the S&P 500 is adding a point to 2,475. The Nasdaq is higher by 10 points to 6,395 and the Russell 2000 is off a point to 1,440.

I have a Profit Alert for T and I’m working on a New Trade to possibly add to the portfolio. Stay locked-and-loaded into the closing bell in case I take action.

 

Momentum Options Play List

Closed Momentum Options Trades for 2017: 39-15 (74%). 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.

 

Cypress Semiconductor (CY, $14.77, up $0.18)

CY August 15 calls (CY170818C00015000, $0.60, up $0.05)

Entry Price: $0.40 (7/12/2017)
Exit Target: $0.80
Return: 50%
Stop Target: None

Action: Fresh resistance at $14.75-$15. Support is at $14.50-$14.25.

 

Wendy’s (WEN, $15.80, up $0.15)

WEN August 16 calls (WEN170818C00016000, $0.45, flat)

Entry Price: $0.45 (7/12/2017)
Exit Target: $0.90
Return: 0%
Stop Target: None

Action: Resistance is at $15.75-$16. Support is at $15.50-$15.25.

 

Bank of America (BAC, $23.91, down $0.15)

BAC August 25 calls (BAC170818C00025000, $0.15, down $0.05)

Entry Price: $0.75 (7/3/2017)
Exit Target: $1.50
Return: -80%
Stop Target: 10 cents (Stop Limit)

Action: Support is at $23.75-$23.50. Resistance is at $24-$24.25.

 

AT&T (T, $36.56, up $0.43)

T August 37 puts (T170818P00037000, $1.10, down $0.15)

Entry Price: $0.78 (6/29/2017)
Exit Target: $1.60
Return: 41%
Stop Target: $1.20 (Stop Limit)

Action: Close the trade at current levels. The Stop Limit at $1.20 hasn’t triggered as the high has been $1.17.

 

TherapeuticsMD (TXMD, $5.42, up $0.08)

TXMD August 7.50 calls (TXMD170818C00007500, $0.25, flat)

Entry Price: $0.50 (6/22/2017)
Exit Target: $1.00
Return: -50%
Stop Target: None

Action: Resistance is at $5.50. Support is at $5.25-$5.

 

iPath S&P 500 VIX Futures (VXX, 11.39, down 0.05)

VXX August 14 calls (VXX170818C00014000, $0.30, flat)

Entry Price: $1.20 (6/15/2017)
Exit Target: $2.40
Return: -75%
Stop Target: None

Action: Support is at 11.50-11.25. Resistance is at 11.75-12.