MomentumOptions.com New Trades (GLD, MOMO) for 6/26/2020

1:10pm (EST)

I have a New Trade on Gold, again, along with a bearish setup on a stock making lower lows.

Spider Gold Shares (GLD, $166.18, up $0.38)

Buy to Open GLD July 172 calls (GLD200717C00172000, $0.97, up $0.09)

Action: We like these call options at current levels and you can use a Limit Order up to $1.10 to get the best fills. These are the regular GLD July 172 calls that expire on July 17th, 2020.

Momo (MOMO, $17.05, down $0.77)

Buy to Open MOMO July 16.50 puts (MOMO200717P00016500, $0.70, up $0.15)

Action: We like these put options at current levels and you can use a Limit Order up to 80 cents to get the best fills. These are the regular MOMO July 16.50 puts that expire on July 17th, 2020.