MomentumOptions.com Mid-Market for 11/30/2017

Record Highs Back in Play

2:15pm (EST)

The bulls are pushing record highs following solid economic numbers this morning and news that Senator John McCain has voiced his support of the Senate tax reform bill. The market’s strength is broad based although the major indexes have backed off their highs heading into the closing bell.

Initial jobless claims dropped 2,000 to 238,000 for the week of November 25th. Personal income rose 0.4% in October, which was a tick better than expected, with spending up 0.3%, as expected. Meanwhile, the Chicago PMI fell 2.3 points to 63.9 in November.

I’m working on a possible New Trade so stay locked-and-loaded into the closing bell. Remember, if you haven’t signed up for Text Alerts, do so now!

Momentum Options Play List

Closed Momentum Options Trades for 2017: 52-21 (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.

Viavi Systems (VIAV, $9.32, up $0.03)

VIAV January 9 calls (VIAV180119C00009000, $0.60, flat)

Entry Price: $0.65 (11/29/2017)
Exit Target: $1.30
Return: -9%
Stop Target: None

Action: Resistance is at $9.50. Support is at $9.

Twitter (TWTR, $20.63, down $0.13)

TWTR January 24 calls (TWTR180119C00024000, $0.35, flat)

Entry Price: $0.70 (11/22/2017)
Exit Target: $1.40
Return: -21%
Stop Target: None

Action: Support is at $20.75-$20.50. Resistance is at $21-$21.25.

Bank of America (BAC, $28.35, up $0.19)

BAC January 28 calls (BAC180119C00028000, $1.30, up $0.10)

Entry Price: $0.63 (11/16/2017)
Exit Target: $1.75 (closed half at $1.30 on 11/29/2017)
Return: 108%
Stop Target: $1.05 (Stop Limit)

Action: Resistance is at $28.50-$28.75. Support is at $28-$27.75.

TiVo (TIVO, $17.75, down $0.15)

January 20 calls (TIVO180119C00020000, $0.35, down $0.05)

Entry Price: $0.60 (10/31/2017)
Exit Target: $1.20
Return: -41%
Stop Target: None

Action: Support is at $17.75-$17.50. Resistance at $18-$18.25.

TherapeuticsMD (TXMD, $6.28, up $0.21)

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: Fresh resistance is at $6.25-$6.50. Rising support is at $6.10-$6.