MomentumOptions.com Mid-Market for 12/13/2017
Fed Minutes on Tap
1:35pm (EST)
The market is showing continued momentum as Wall Street awaits the last rate decision of the year from the Federal Reserve. While it is widely expected that the Fed will make its third rate hike of 2017, what the central bank signals about its tightening plans next year may be of greater interest to the market.
This decision comes at the top of the hour, followed by Janet Yellen’s last FOMC press conference before she passes the baton to incoming Chair Jerome Powell.
As I head to press, the Dow is jumping 101 points to 24,605 while the S&P 500 is up 2 points to 2,666. The Nasdaq is gaining 15 points to 6,877 and the Russell 2000 is adding 8 points to 1,524.
I’m working on a possible New Trade but want to wait to see how the market reacts after the Fed news. If Intake action, I will send out a Trade Alert. On that note, I’m suggesting we exit TIVO today.
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.
Spider Gold Shares (GLD, $118.35, up $0.20)
GLD January 117 puts (GLD180117P00117000, $0.95, flat)
Entry Price: $0.95 (12/11/2017)
Exit Target: $1.90
Return: 0%
Stop Target: None
Action: Resistance is at $118.50. Support is at $118-$117.75.
Intel (INTC, $43.44, up $0.11)
INTC January 45 calls (INTC180119C00045000, $0.50, flat)
Entry Price: $0.53 (12/11/2017)
Exit Target: $1.10
Return: -6%
Stop Target: None
Action: Resistance is at $43.50-$43.75. Support is at $43.25-$43.
Bank of America (BAC, $29.24, down $0.08)
BAC January 30 calls (BAC180119C00030000, $0.57, down $0.05)
Entry Price: $0.50 (12/8/2017)
Exit Target: $1.00
Return: 14%
Stop Target: None
Action: Resistance is at $29.25-$29.50. Support is at $29-$28.75.
Viavi Systems (VIAV, $9.00, up $0.28)
VIAV January 9 calls (VIAV180119C00009000, $0.50, up $0.10)
Entry Price: $0.65 (11/29/2017)
Exit Target: $1.30
Return: -31%
Stop Target: None
Action: Resistance is at $9-$9.25. Support is at $8.75-$8.50.
Twitter (TWTR, $21.64, down $0.01)
TWTR January 24 calls (TWTR180119C00024000, $0.35, flat)
Entry Price: $0.70 (11/22/2017)
Exit Target: $1.40
Return: -50%
Stop Target: 15 cents (Stop Limit)
Action: Support is at $21.50-$21.25. Resistance is at $21.75-$22.
TiVo (TIVO, $14.93, down $0.97)
January 20 calls (TIVO180119C00020000, $0.10, down $0.05)
Entry Price: $0.60 (10/31/2017)
Exit Target: $1.20
Return: -84%
Stop Target: None
Action: Close the trade at current levels to save the remaining premium. Shares were downgraded today by an analyst on continued worries over Tivo’s legal dispute with Comcast.