MomentumOptions.com Profit Alert (F) for 8/6/2024

9:00am (EST)

We have another Profit Alert this morning after shares of Ford sank below $10 yesterday. Even better, it’s our biggest winner of the year!

Profit Alert!

Ford (F, $9.71, down $0.32)

F August 13 puts (F240816P00013000, $3.40, up $0.30)

Entry Price: $0.25 (7/22/2024)
Exit Target: $3.75 (Limit Order / closed half at $2.75 on 8/2)
Return: 1,200%
Stop Target: $2.75 (Stop Limit)

Action: The Limit Order to close the remaining half of the trade at $3.75 was tripped on Monday. The puts peaked at $3.80 when the stock traded to a 52-week low of $9.49. The average closing price was $3.25.

The strangle option trade that included the expiring F August 15 calls returned 622%.

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