MomentumOptions.com Mid-Market for 2/22/2018
Final Hour of Trading Looking Weak/ Profit Alert (INTC)
3:25pm (EST)
The market began the session with modest gains and continued to extend its rally throughout the morning and into the afternoon. Yesterday, the Dow was up more than 300 points before reversing and closing with a loss. Today’s action could be similar as the indexes are once again losing steam in the final hour of trading.
The Dow is up 198 points to 24,996 while the S&P 500 is adding 7 points to 2,708. The Nasdaq is higher by 3 points to 7,221 and the Russell 2000 is off a half-point to 1,531.
I have a Profit Alert for INTC so let’s go check the tape.
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Closed Momentum Options Trades for 2018: 7-5 (58%). 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.
Bank of America (BAC, $31.74, down $0.12)
BAC March 33 calls (BAC180316C00033000, $0.23, down $0.02)
Entry Price: $0.50 (2/15/2018)
Exit Target: $1.00
Return: -56%
Stop Target: None
Action: Support is at $31.75-$31.50. Resistance is at $32-$32.25.
Intel (INTC, $45.83, down $0.11)
INTC April 46 calls (INTC180420C00046000, $1.85, down $0.10)
Entry Price: $1.28 (2/14/2018)
Exit Target: $2.60
Return: 46%
Stop Target: $1.90 (Stop Limit)
Action: The Stop Limit at $1.90 has tripped on today’s slight pullback.
Viavi Systems (VIAV, $9.67, down $0.14)
VIAV March 10 calls (VIAV180316C00010000, $0.20, down $0.05)
Entry Price: $0.45 (2/6/2018)
Exit Target: $0.90
Return: -55%
Stop Target: None
Action: Support is at $9.75-$9.50. Resistance is at $10.