MomentumOptions.com Mid-Market for 12/11/2017
Big Week for Bank Speak/ New Trades (GLD, INTC)
2:35pm (EST)
Futures were choppy ahead of this morning’s open following an attempted terrorist attack in New York City, but recovered as the injuries and damages were minimal. The market has since showed strength ahead of a number of key central bank meetings later in the week.
Central bank decisions from the Federal Reserve, Bank of England and the European Central Bank could sway market sentiment this week with upside, or downside, momentum into the rest of the year. These will be the last major economic events before the market enters a slow period with Christmas and New Year’s fast approaching.
Heading into the final hours of trading, the Dow is up 44 points to 24,373 while the S&P 500 is gaining 6 points to 2,658. The Nasdaq is higher by 33 points to 6,873 and the Russell 2000 is adding a tenth-point to 1,521.
I have two New Trades I like so let’s get on it.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 54-22 (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.
New Trades!
Spider Gold Shares (GLD, $118.10, down $0.38)
Buy to Open GLD January 117 puts (GLD180117P00117000, $0.95, up $0.05)
Action: I like these put options at current levels and you can use a Limit Order up to $1.05 to get the best fills. These are the regular GLD January 117 puts that expire on January 19th, 2017.
Intel (INTC, $43.45, up $0.10)
Buy to Open INTC January 45 calls (INTC180119C00045000, $0.53, down $0.05)
Action: I like these call options at current levels and you can use a Limit Order up to 65 cents to get the best fills. These are the regular INTC January 45 calls that expire on January 19th, 2017.
Current Trades
Bank of America (BAC, $29.04, down $0.01)
BAC January 30 calls (BAC180119C00030000, $0.50, down $0.03)
Entry Price: $0.50 (12/8/2017)
Exit Target: $1.00
Return: 0%
Stop Target: None
Action: Resistance is at $29.25-$29.50. Support is at $28.75-$28.50.
Viavi Systems (VIAV, $8.87, up $0.05)
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, $22.04, up $0.94)
TWTR January 24 calls (TWTR180119C00024000, $0.40, up $0.15)
Entry Price: $0.70 (11/22/2017)
Exit Target: $1.40
Return: -42%
Stop Target: 15 cents (Stop Limit)
Action: Fresh resistance is at $22.25-$22.50. Rising support is at $21.75-$21.50.
TiVo (TIVO, $16.00, flat)
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.