MomentumOptions.com Profit Alert (XLP) for 9/2/2020

1.40pm (EST)

I have another triple-digit Profit Alert, our 10th of the year, so let’s go check the tape. I’m still working on a possible new trade so stay locked-and-loaded into the closing bell.

Profit Alert!

Consumer Staples Select Spiders (XLP, $66.64, up $0.99)

XLP September 65 calls (XLP200918C00065000, $2.00, up $0.80)

Entry Price: $0.85 (8/17/2020)

Exit Target: $1.70

Return: 135%

Stop Target: $1.70 (Stop Limit)

Action: Close half the trade at current levels. Set a Stop Limit at $1.70 on the other half.