MomentumOptions.com Mid-Market for 12/7/2017
Bulls Showing Strength/ Profit Alert (CC)
1:30pm (EST)
The market opened slightly mixed and remained in a tight range throughout the morning. However, the major indexes moved toward session highs near noon, with the small-caps showing the most strength.
Oil prices have rebounded after beginning the day in negative territory, with the price of crude now higher by a bit over 1%. Black gold pulled back significantly in yesterday’s trading after pushing resistance near the $60 level.
In economic news, initial jobless claims dipped 2,000 to 236,000 in the first week of December and shy of expectations for a print of 240,000.
As I head to press, the Dow is up 87 points to 24,228 while the S&P 500 is gaining 8 points to 2,637. The Nasdaq is higher by 39 points to 6,815 and the Russell 2000 is adding 10 points to 1,519.
I have another Profit Alert as shares have CC have rebounded to trigger our Stop Limit.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 53-22 (71%). 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, $47.58, up $1.23)
January 47 puts (CC180119P00047000, $2.50, down $0.60)
Entry Price: $1.30 (12/4/2017)
Exit Target: $4 (closed 1/3 at $3.10 on 12/6/2017)
Return: 123%
Stop Target: $2.80 (Stop Limit)
Action: The Stop Limit at $2.80 has triggered on today’s rebound in the stock.
I will keep shares on my Watch List for another possible reentry point if resistance near $48 holds.
Viavi Systems (VIAV, $8.83, up $0.10)
VIAV January 9 calls (VIAV180119C00009000, $0.35, flat)
Entry Price: $0.65 (11/29/2017)
Exit Target: $1.30
Return: -53%
Stop Target: None
Action: Resistance is at $9. Support is at $8.75-$8.50.
Twitter (TWTR, $21.10, up $0.01)
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: Resistance is at $21.25-$21.50. Support is at $20.75-$20.50.
TiVo (TIVO, $15.97, down, $0.23)
January 20 calls (TIVO180119C00020000, $0.15, flat)
Entry Price: $0.60 (10/31/2017)
Exit Target: $1.20
Return: -75%
Stop Target: None
Action: Support is at $16-$15.75. Resistance is at $16.25-$16.50.