Mid-Market Update for 8/15/2017

Watching the Semis/ New Trade (INTC)

2:30pm (EST)

The iShares Semiconductor ETF (SOXX) gained 2.6% on Monday to close back above the 50-day moving average. Today’s follow through is a good short-term signal for the market. The Semis have been one of the more volatile sectors with a number of high profile stocks making up the EFT.

Current resistance is at $148.50-$149. A move above $150 could lead to momentum for another possible push towards $152-$154. Support is at $147-$146.50.

Heading into the second half of trading, The Dow is down 2 points to 21,991 while the S&P 500 is slipping a point to 2,465. The Nasdaq is lower by 6 points to 6,333 and the Russell 2000 is declining 9 points to 1,384.

Today’s update is a little short as I have a New Trade I want to get us into.


Momentum Options Play List

Closed Momentum Options Trades for 2017: 43-19 (69%). 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!!!

Intel (INTC, $35.84, down $0.50)

Buy to Open INTC October 37 calls (INTC171020C00037000, $0.53, down $0.18)

Action: I like these call options at current levels and you can use a Limit Order up to 65 cents to get the best fills. These are the regular INTC October 37 calls that expire on October 20th, 2017. I will provide the parameters of the trade in tomorrow’s update.


Current Trades

TiVo (TIVO, $18.25, down $0.25)

TIVO October 20 calls (TIVO171020C00020000, $0.65, flat)

Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -7%
Stop Target: None

Action: Support is at $18-$17.75. Resistance is at $18.50-$18.75.


3D Systems (DDD, $12.40, down $0.38)

August 16 puts (DDD170818P00016000, $3.50, up $0.30)

Entry Price: $0.55 (8/2/2017)
Exit Target: $4 (Limit Order) (closed half @ $1.10 on 8/3/2017)
Return: 312% ($2.30 current avg. closing price)
Stop Target: $3 (Stop Limit)

Action: Support is at $12.50-$12.25. Resistance is at $12.75-$13.