MomentumOptions.com Mid-Market Update for 9/7/2017

Blue-Chips Struggling

2:10pm (EST)

The market began the session with modest gains but turned mixed a short time after the open. The major indexes have traded in a narrow range, with weakness in the Dow as Apple (AAPL) and Disney (DIS) are weighing on the blue-chips.

Crude oil prices are also lower as investors watch the movement of Hurricane Irma, which is bound for the Florida coast. Georgia has started to issue evacuation warnings.

The Dow is down 45 points to 21,762 while the S&P 500 is sliding a point to 2,463. The Nasdaq is up 2 points to 6,395 and the Russell 2000 is lower by 5 points to 1,397.

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

 

Momentum Options Play List

Closed Momentum Options Trades for 2017: 46-19 (71%). 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, $13.66, down $0.05)

CY October 14 calls (CY171020C00014000, $0.50, flat)

Entry Price: $0.60 (9/1/2017)
Exit Target: $1.20
Return: -17%
Stop Target: None

Action: Support is at $13.60-13.50. Resistance is at $14.

 

TherapeuticsMD (TXMD, $6.87, up $0.42)

TXMD December 7.50 calls (TXMD171215C00007500, $0.90, up $0.15)

Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -4%
Stop Target: None

Action: Fresh resistance is at $6.76-$7. Support is at $6.50-$6.25.

 

Intel (INTC, $35.36, down $0.40)

INTC October 37 calls (INTC171020C00037000, $0.24, down $0.08)

Entry Price: $0.53 (8/15/2017)
Exit Target: $1.10
Return: -54%
Stop Target: 10 cents (Stop Limit)

Action: Support is at $35.50-$35.25. Resistance is at $35.75-$36.

 

TiVo (TIVO, $17.80, down $0.30)

TIVO October 20 calls (TIVO171020C00020000, $0.30, down $0.05)

Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -57%
Stop Target: None

Action: Resistance is at $18.25-$18.50. Support is at $18-$17.75.