MomentumOptions.com Mid-Market Update for 9/25/2017
Earnings for the Week
1:45pm (EST)
The official start for 3Q earnings season is still a few weeks away before the real excitement begins. However, there are number of high profile companies worth following in the coming days to get a feel on how stocks and the market will react come October.
After today’s closing bell, Red Hat(RHT), Synnex (SNX) and Versar (VSR) will announce their numbers.
Carnival (CCL), Darden Restaurants (DRI), FactSet Research Systems (FDS), IHS Markit (INFO), Micron Technology (MU) and Nike (NKE) highlight Tuesday’s session.
Actuant (ATU), HB Fuller (FUL), Jabil Circuit (JBL) and Thor Industries (THO) step up to the podium on Wednesday.
Thursday’s action Accenture (ACN), BlackBerry (BBRY), Conagra Brands (CAG) and Vail Resorts (MTN).
There are no major announcements for Friday.
I mentioned there could be some late September weakness for the market and today’s pullback is being led by Tech and its 1% decline.
The Dow is down 66 points to 22,283 while the S&P 500 is lower by 8 points to 2,493. The Nasdaq is sinking 65 points to 6,361 and the Russell 2000 is slipping a point to 1,449.
I have updated our current trades so let’s go check the tape.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 48-19 (72%). 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.
Limelight Networks (LLNW, $3.81, down $0.15)
LLNW December 4 calls (LLNW171215C00004000, $0.30, down $0.07)
Entry Price: $0.37 (9/13/2017)
Exit Target: $0.80-$1.20
Return: -21%
Stop Target: None
Action: Support is at $3.80-$3.75. Resistance is at $4-$4.10.
Cisco Systems (CSCO, $33.57, up $0.20)
CSCO October 32 calls (CSCO171020C00032000, $1.50, up $0.05)
Entry Price: $0.50 (9/13/2017)
Exit Target: $2.10
Return: 200%
Stop Target: $1.20 (Stop Limit)
Action: Resistance is at $33.50-$33.75. Support is at $33-$32.75.
TherapeuticsMD (TXMD, $6.12, down $0.04)
TXMD December 7.50 calls (TXMD171215C00007500, $0.70, flat)
Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -26%
Stop Target: None
Action: Support is at $6-$5.95. Resistance is at $6.25-$6.30.
TiVo (TIVO, $18.95, up $0.20)
TIVO October 20 calls (TIVO171020C00020000, $0.40, down $0.05)
Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -42%
Stop Target: None
Action: Support is at $18.75. Resistance is at $19.25.