MomentumOptions.com Mid-Market Update for 8/29/2017

Bulls Hold Support on Morning Lows

1:20pm (EST)

Futures were showing a nasty open this morning following more drama from North Korea and another missile launch, this time over Japan. Volatility spike but has since settled with gold continuing its rally above the $1,300 level.

I mentioned the market could experience choppiness and volatility on light volume this week that could provide some short-term trading opportunities. I have been updating my Watch List throughout the morning for opportunities and I hope to have 1-2 New Trades ready by today’s closing bell.

Heading into the second half of trading, the Dow is up 18 points to 21,826 while the S&P 500 is gaining less than a point to 2,444. The Nasdaq is higher by 15 points to 6,298 and the Russell 2000 is adding 2 points to 1,384.

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.

 

Amicus Therapeutics (FOLD, $13.60, up $0.11)

FOLD October 15 calls (FOLD171020C00015000, $1.25, flat)

Entry Price: $1.05 (8/25/2017)
Exit Target: $2.10
Return: 23%
Stop Target: None

Action: Resistance is at $13.75-$14 in play. Support is at $13.25-$13.

 

TherapeuticsMD (TXMD, $6.02, down $0.05)

TXMD December 7.50 calls (TXMD171215C00007500, $0.65, flat)

Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -31%
Stop Target: None

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

 

Intel (INTC, $34.59, down $0.06)

INTC October 37 calls (INTC171020C00037000, $0.14, flat)

Entry Price: $0.53 (8/15/2017)
Exit Target: $1.10
Return: -73%
Stop Target: 10 cents (Stop Limit)

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

 

TiVo (TIVO, $18.42, up $0.42)

TIVO October 20 calls (TIVO171020C00020000, $0.35, flat)

Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -50%
Stop Target: None

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