Profit Alert (MRO) for 6/1/2021

11:00am (EST)

I have a Profit Alert today on a stock breaking out to new 52-week highs. Please read the trade instructions carefully as we are only taking partial profits.

Profit Alert!

Marathon Oil (MRO, $13.45, up $1.34)

MRO July 12 calls (MRO210716C00012000, $1.80, up $0.90)

Entry Price: $0.85 (5/24/2021)
Exit Target: $1.70, raise to $2.50
Return: 114%
Stop Target: $1.15 (Stop Limit)

Action: Close 1/3 of the trade at current levels.

Raise the Exit Target from $1.70 to $2.50. Set a Stop Limit at $1.15 on the remaining 2/3 of the position.

I will have a more detailed write-up in tomorrow’s update.