MomentumOptions.com Profit Alert (IGT) for 3/16/2021

10:55am (EST)

I have another Profit Alert this morning so let’s go check the tape.

Profit Alert!

International Game Tech (IGT, $19.13, down $0.58)

IGT April 20 calls (IGT210416C00020000, $0.90, down $0.50)

Entry Price: $1.10 (3/11/2021)
Exit Target: $2.20
Return: 5%
Stop Target: $1.15 (Stop Limit)

Action: The calls have faded from a high of $1.30 this morning with the Stop Limit at $1.15 getting triggered on the pullback in the stock.

While disappointed we didn’t get a bigger return, we can look for a reentry point on a possible backtest towards the 50-day moving average.