MomentumOptions.com Mid-Market Update for 8/24/2017

Choppy Action Ahead of Fed Speak

2:55pm (EST)

Folks, it has been frustrating while we have been in a trading range for the back half of the month but I would rather wait for better opportunities once a clearer trend emerges. Of the 63 closed trades for the year, there has only been two times I have recommended back-to-back losing option trades. However, I do have three current trades that are in the red as I do try to always have an open trade in the market at all times.

I don’t trade just to trade, and I don’t have the pressure of recommending trades because a publisher told me to do so. I put smart money to work, not dumb money. The win rate is a solid 70% and I hope to be pushing this back up to 75%-80% by yearend.

Additionally, we closed a 200% and a 300% winner this month. When the flood gates, open, they will open. Otherwise, it’s just like playing poker, sometimes you just have to wait the game out if the cards aren’t coming.

Heading into the final hour of trading, the Dow is down 23 points to 21,788 while the S&P 500 is off 4 points to 2,439. The Nasdaq is sliding 8 points to 6,269 and the Russell 2000 is up 3 points to 1,373.

I have updated our current trades so let’s go check the tape.

 

Momentum Options Play List

Closed Momentum Options Trades for 2017: 44-19 (70%). 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.

 

TherapeuticsMD (TXMD, $6.07, up $0.14)

TXMD December 7.50 calls (TXMD171215C00007500, $0.70, flat)

Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -29%
Stop Target: None

Action: Resistance is at $6-$6.25. Support is at $6-$5.75.

 

Intel (INTC, $34.68, up $0.02)

INTC October 37 calls (INTC171020C00037000, $0.18, flat)

Entry Price: $0.53 (8/15/2017)
Exit Target: $1.10
Return: -69%
Stop Target: None

Action: Support is at $34.50-$34.25. Resistance is at $34.75-$35.

 

TiVo (TIVO, $18.05, down $0.40)

TIVO October 20 calls (TIVO171020C00020000, $0.40, down $0.10)

Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -42%
Stop Target: None

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