MomentumOptions.com Mid-Market for 12/18/2017
Bulls Keep Momentum
2:40pm (EST)
The market is once again at fresh-all-time highs as I head to press as it appears Congress will pass a tax bill on Tuesday. As I head to press, the Dow is up 139 points to 24,791 while the S&P 500 is gaining 16 points to 2,691. The Nasdaq is higher by 58 points to 6,994 and the Russell 2000 is adding 15 points to 1,545.
My commentary is a little short today as a number of our trades are zooming. I have adjusted the parameters for INTC and TWTR again so let’s go check the action.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 54-23 (70%). 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.
Pfizer (PFE, $37.19, down $0.01)
PFE January 37 calls (PFE180119C00037000, $0.65, down $0.02)
Entry Price: $0.43 (12/14/2017)
Exit Target: $0.90
Return: 51%
Stop Target: 50 cents (Stop Limit)
Action: Support is at $37-$36.75. Resistance at $37.25-$37.50.
Spider Gold Shares (GLD, $119.74, up $0.56)
GLD January 117 puts (GLD180117P00117000, $0.35, down $0.12)
Entry Price: $0.95 (12/11/2017)
Exit Target: $1.90
Return: -65%
Stop Target: None
Action: Resistance is at $119.25-$119.50. Support is at $119-$118.75.
Intel (INTC, $45.88, up $1.32)
INTC January 45 calls (INTC180119C00045000, $1.50, up $0.45)
Entry Price: $0.53 (12/11/2017)
Exit Target: $1.10, raise to $2
Return: 191%
Stop Target: 75 cents (Stop Limit)
Action: Raise the Exit Target to $2.
Fresh resistance is at $46-$46.25. Rising support is at $45.25-$45.
Bank of America (BAC, $29.41, up $0.37)
BAC January 30 calls (BAC180119C00030000, $0.53, up $0.10)
Entry Price: $0.50 (12/8/2017)
Exit Target: $1.00
Return: 6%
Stop Target: None
Action: Resistance is at $29.50-$29.75. Rising support is at $29.25-$29.
Viavi Systems (VIAV, $8.91, up $0.26)
VIAV January 9 calls (VIAV180119C00009000, $0.30, up $0.05)
Entry Price: $0.65 (11/29/2017)
Exit Target: $1.30
Return: -53%
Stop Target: None
Action: Resistance is at $8.75-$9. Support is at $8.50.
Twitter (TWTR, $24.45, up $2.23)
TWTR January 24 calls (TWTR180119C00024000, $1.35, up $0.90)
Entry Price: $0.70 (11/22/2017)
Exit Target: $1-$1.40, raise to $2 (closed half @ $1 on 12/18)
Return: 74%
Stop Target: 30 cents (Stop Limit)
Action: The Limit Order to close half the trade @ $1 has triggered. Raise the Exit Target on the other half to $2.
Resistance is at $24.50-$25. Fresh support is at $22-$21.75.