MomentumOptions.com Mid-Market Update for 9/14/2017

SOXX Breaking Out

2:40pm (EST)

The iShares PHLX Semiconductor (SOXX) is trying to clear resistance at $152 and a level that has been holding since late July. This area also held at the beginning of the month with continued closes above $152.25-$152.50 likely leading to a run towards $154-$155. Support is at $151.75-$151.50.

Continued strength in the SOXX would be a bullish development, overall, for the market and would signal a continuing broad-based rally.

The Dow is up 45 points to 22,203 while the S&P 500 is sliding 2 points to 2,496. The Nasdaq is off 22 points to 6,437 and the Russell 2000 is declining 2 points to 1,424.

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

 

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.

 

Cisco Systems (CSCO, $32.18, flat)

CSCO October 32 calls (CSCO171020C00032000, $0.55, flat)

Entry Price: $0.50 (9/13/2017)
Exit Target: $1.00
Return: 10%
Stop Target: None

Action: Resistance is at $32.25-$32.50. Support is at $32-$31.75.

 

Cypress Semiconductor (CY, $14.41, up $0.27)

CY October 14 calls (CY171020C00014000, $0.75, up $0.05)

Entry Price: $0.60 (9/1/2017)
Exit Target: $1.20
Return: 25%
Stop Target: None

Action: Support is at $14-$13.75. Resistance is at $14.25-$14.50.

 

TherapeuticsMD (TXMD, $6.46, down $0.07)

TXMD December 7.50 calls (TXMD171215C00007500, $0.80, flat)

Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -18%
Stop Target: None

Action: Support is at $6.25. Resistance is at $6.50-$6.75.

 

Intel (INTC, $36.64, up $0.31)

INTC October 37 calls (INTC171020C00037000, $0.50, up $0.10)

Entry Price: $0.53 (8/15/2017)
Exit Target: $1.10
Return: -7%
Stop Target: 10 cents (Stop Limit)

Action: Resistance is at $36.50-$36.75. Support is at $36-$35.75.

 

TiVo (TIVO, $18.70, up $0.10)

TIVO October 20 calls (TIVO171020C00020000, $0.45, flat)

Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -37%
Stop Target: None

Action: Resistance is at $18.75-$19. Support is at $18.25-$18.