ACTION:
$0.30 Stop Limit triggered on the second half of the RIGL June 5 calls.
Dear Momentum Options Subscriber,
I have another Profit Alert this afternoon ahead of the Mid-Market Update, which I’m still working on. I could also have another New Trade within the hour, so please keep an eye on your inboxes.
Rigel Pharmaceuticals (RIGL, $4.75, up $0.06)
RIGL June 5 calls (RIGL150619C00005000, $0.45, down $0.05)
Entry Price: $0.25 (3/31/2015)
Exit Target: $0.75-$1.00 (closed 1/4 at $0.60 on 4/22/15, closed 1/4 at $0.50 on 4/27/15)
Return: 70%
Stop Target: $0.30 (Stop Limit on remaining 1/2 position)
Action: The $0.30 Stop Limit was triggered on the second half of the RIGL June 5 calls on this morning’s dip to $4.52, as the options traded down to $0.25.
Obviously, we were “Charlie Browned” on the pullback, but I will likely try to get us back into the name using different options. For now, however, we are out of the position.
All prices given in this update are current as 12:10 p.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