MomentumOptions.com Mid-Market Update for 9/18/2017
Earnings for the Week
3:40pm (EST)
I mentioned earnings would be still flowing this week, like they always do, nearly every week of the year. With 3Q earnings now on the map, here is a look at this week’s announcements and possible trade candidates.
Steelcase (SCS) starts off the week with numbers after today’s closing bell.
Adobe Systems (ADBE), Apogee Enterprises (APOG), AutoZone (AZO), Bed Bath & Beyond (BBBY), Copart (CPRT), FedEx (FDX) and Neogen (NEOG) announce earnings on Tuesday.
General Mills (GIS) and Herman Miller (MLHR) highlight Wednesday’s action.
Thursday’s list includes Manchester United (MANU), Presidio (PSDO) and Student Transportation (STB).
Carmax (KMX) and Finish Line will report earnings ahead of Friday’s opening bell.
As far as the market, futures were showing a strong open throughout the night with the gains holding for much of the session before somewhat weakening over the past hour. The Dow is up 73 points to 22,341 while the S&P 500 is gaining 3 points to 2,503. The Nasdaq is higher by 5 points to 6,453 and the Russell 2000 is advancing 9 points to 1,440.
I have updated our current trades ahead of the closing bell so let’s go check the tape.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 46-19 (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.
Cisco Systems (CSCO, $32.54, up $0.10)
CSCO October 32 calls (CSCO171020C00032000, $0.75, up $0.05)
Entry Price: $0.50 (9/13/2017)
Exit Target: $1.00
Return: 50%
Stop Target: 52 cents (Stop Limit)
Action: Resistance is at $32.50-$32.75. Support is at $32.25-$32.
Cypress Semiconductor (CY, $14.56, up $0.15)
CY October 14 calls (CY171020C00014000, $0.85, up $0.05)
Entry Price: $0.60 (9/1/2017)
Exit Target: $1.20
Return: 38%
Stop Target: 63 cents (Stop Limit)
Action: Resistance is at $14.50-$14.75. Support is at $14.25-$14.
TherapeuticsMD (TXMD, $6.68, up $0.08)
TXMD December 7.50 calls (TXMD171215C00007500, $0.80, flat)
Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -18%
Stop Target: None
Action: Resistance is at $6.75. Support is at $6.25.
Intel (INTC, $37.03, up $0.03)
INTC October 37 calls (INTC171020C00037000, $0.70, flat)
Entry Price: $0.53 (8/15/2017)
Exit Target: $1.10
Return: 36%
Stop Target: 55 cents (Stop Limit)
Action: Resistance is at $37.25-$37.50. Support is at $36.50-$36.25.
TiVo (TIVO, $19.60, up $0.45)
TIVO October 20 calls (TIVO171020C00020000, $0.60, up $0.10)
Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -16%
Stop Target: None
Action: Resistance is at $19.50-$19.75. Support is at $19.25-$19.