ACTIONS:
Buy to open the OPK June 16 calls (OPK150619C00016000, $0.50, up $0.05) at current levels.
Buy to open the FCX June 23 calls (FCX150619C00023000, $0.55, up $0.10) at current levels.
Dear Momentum Options Subscriber,
I have two New Trades for the portfolio this morning. One trade is on a name that is on the verge of fresh 52-week highs. We did well trading it earlier this year, as the call options I recommended returned 111%. I’m looking for these call options to return a triple-digit profit as well. I also have another trade to play a turnaround in copper.
Opko Health (OPK, $15.03, up $0.20)
Buy to open the OPK June 16 calls (OPK150619C00016000, $0.50, up $0.05) at current levels.
Shares are on the verge of fresh 52-week peaks, and I like these options to play a run to higher highs. These are the regular monthly options that expire on June 19.
Freeport-McMoRan (FCX, $20.95, up $0.13)
Buy to open the FCX June 23 calls (FCX150619C00023000, $0.55, up $0.10) at current levels.
I like these call options at current levels. These are the regular monthly options that expire on June 19.
I will provide the parameters of both trades in today’s Mid-Market Update.
All prices given in this update are current as 9:50 a.m. EST.
Every new Momentum Options recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.
Trade on!
Rick Rouse
Editor and Chief Options Strategist
Momentum Options