MomentumOptions.com New Trade (MO) for 3/16/2021

1:30pm (EST)

I have New Trade on a stock that is signaling overbought levels after rising 10% in seven trading sessions. Shares seem ripe for a near-term pullback so we are using put options.

New Trade!

Altria Group (MO, $49.71, down $0.13)

Buy to Open MO April 47.50 puts (MO210416P00047500, $0.75, down $0.10)

Action: I like these put options at current levels and you can use a Limit Order up to 90 cents to get the best fills. These are the regular MO April 47.50 puts that expire on April 16th, 2021.