MomentumOptions.com Mid-Market for 12/5/2017
Tech Continues Backtest
3:45pm (EST)
The market is trending lower heading into the final half hour of trading with Tech giving back all of its gains following a strong start. I’ve been tremendously busy looking a new trade setups but we may have to wait another day or two to see how the action unfolds.
The Dow is down 106 points to 24,183 while the S&P 500 is off 8 points to 2,631. The Nasdaq is lower by 5 points to 6,770 and the Russell 2000 is sliding 17 points to 1,519.
I have updated our current trades so let’s go check the tape.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 53-21 (72%). All trades are dated and time stamped for verification. New subscribers can look at the past history to see how the trades have played out or to research our Track Records.
Do not risk more than 5% of your trading account on any one trade but do try to take all of the trades. Please remember, all “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any trades or “Exit Orders” in your brokerage account unless I list one. I will send out a “Profit Alert” or “New Trade” if I want you to close a position or if a new trade comes out. Otherwise, follow instructions at all times in the 8am and 12pm–2pm (EST) updates. Also, I will usually give you a heads-up if I think I’m going to send a Trade Alert outside of these time frames.
Chemours (CC, $49.25, down $2.19)
January 47 puts (CC180119P00047000, $1.80, flat)
Entry Price: $1.30 (12/4/2017)
Exit Target: $2.60
Return: 38%
Stop Target: None
Action: Support is at $48 with risk to $46-$44 on a move below this level. Resistance is at $49.75.
Viavi Systems (VIAV, $8.92, down $0.01)
VIAV January 9 calls (VIAV180119C00009000, $0.45, flat)
Entry Price: $0.65 (11/29/2017)
Exit Target: $1.30
Return: -31%
Stop Target: None
Action: Support is at $8.75. Resistance is at $9.
Twitter (TWTR, $20.82, up $0.41)
TWTR January 24 calls (TWTR180119C00024000, $0.25, flat)
Entry Price: $0.70 (11/22/2017)
Exit Target: $1.40
Return: -64%
Stop Target: 15 cents (Stop Limit)
Action: Support is at $20.25-$20. Resistance is at $20.50-$20.75.
TiVo (TIVO, $15.92, down $0.40)
January 20 calls (TIVO180119C00020000, $0.15, down $0.05)
Entry Price: $0.60 (10/31/2017)
Exit Target: $1.20
Return: -75%
Stop Target: None
Action: Fresh support is at $16-$15.75. Resistance is at $16.25.
TherapeuticsMD (TXMD, $5.94, down $0.10)
TXMD December 7.50 calls (TXMD171215C00007500, $0.10, flat)
Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -89%
Stop Target: None
Action: Support is at $6-$5.75. Resistance is at $6.25.