MomentumOptions.com Mid-Market for 11/27/2017

Flat Action Into the Close

3:05pm (EST)

The Dow, S&P 500, and Nasdaq tapped fresh record highs shortly after the open but is mixed heading into the final hour of trading. Wall Street seems to be waiting on more details concerning tax cuts instead of putting money at risk in case no deal gets done.

The industrial sector is seeing some strength as shares of General Electric (GE) are trying to form a near-term bottom. Oil prices are losing ground and down roughly 2% and back below $58 a barrel.

In economic news, new home sales rose 6.2% to a 10-year high rate of 685,000 units in October, which was much stronger than forecast.

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

Momentum Options Play List

Closed Momentum Options Trades for 2017: 50-21 (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.

Twitter (TWTR, $21.91, down $0.51)

TWTR January 24 calls (TWTR180119C00024000, $0.55, down $0.22)

Entry Price: $0.70 (11/22/2017)
Exit Target: $1.40
Return: -22%
Stop Target: None

Action: Support is at $22-$21.75. Resistance is at $22.50-$22.75.

Bank of America (BAC, $26.61, up $0.02)

BAC January 28 calls (BAC180119C00028000, $0.42, flat)

Entry Price: $0.63 (11/16/2017)
Exit Target: $1.25
Return: -33%
Stop Target: None

Action: Resistance is at $26.75-$26. Support is at $26.50-$26.25.

Rambus (RMBS, $15.22, up $0.05)

RMBS January 15 calls (RMBS180119C00015000, $0.65, flat)

Entry Price: $0.35 (11/16/2017)
Exit Target: $0.70
Return: 94%
Stop Target: 60 cents (Stop Limit)

Action: Resistance is at $15.25-$15.50. Support is at $15-$14.75.

TiVo (TIVO, $17.77, down $0.68)

January 20 calls (TIVO180119C00020000, $0.45, down $0.10)

Entry Price: $0.60 (10/31/2017)
Exit Target: $1.20
Return: -25%
Stop Target: None

Action: Fresh support is at $17.75-$17.50. Resistance is at $18.

Limelight Networks (LLNW, $5.89, up $0.03)

LLNW ‪December 4‬ calls (LLNW171215C00004000, $1.85, flat)

Entry Price: $0.37 (9/21/2017)
Exit Target: $2.50 (Limit Order on half at $2.50)
Return: 400%
Stop Target: $1.70 (Stop Limit)

Action: Resistance is at $5.90-$6. Support at $5.75-$5.70.

TherapeuticsMD (TXMD, $6.03, up $0.04)

TXMD December 7.50 calls (TXMD171215C00007500, $0.15, flat)

Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -84%
Stop Target: None

Action: Resistance is at $6-$6.25. Support is at $5.75-$5.50.