MomentumOptions.com Mid-Market for 12/20/2017
Flat Action Slightly Bullish/ Profit Alert (INTC)
2:00pm (EST)
The market has traded in a tight range ahead of a second vote by the House due to a procedural issue with the initial passage of Republicans’ tax bill. This was only a formality, however, as the tax bill has already been passed following the second vote that just passed.
The Senate having already done its part and President Trump is certain to sign the bill into law in the near-term. The zombies still have to fund the government by tomorrow at midnight or risk a shutdown so there is some nervousness as the weekend approaches.
As I head to press, the Dow is up 14 points to 24,769 while the S&P 500 is gaining 2 points to 2,683. The Nasdaq is higher by 5 points to 6,969 and the Russell 2000 is adding 5 points to 1,542.
I have a partial Profit Alert for INTC so let’s go check the tape. I still hope to have a New Trade ready by the closing bell so stay locked-and-loaded.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 55-23 (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, $120.16, up $0.34)
GLD January 117 puts (GLD180117P00117000, $0.30, down $0.05)
Entry Price: $0.95 (12/11/2017)
Exit Target: $1.90
Return: -69%
Stop Target: None
Action: Resistance is at $120-$120.50 and the 200-day moving average. Support is at $119.25-$119.
Intel (INTC, $47.41, up $0.37)
INTC January 45 calls (INTC180119C00045000, $2.85, up $0.25)
Entry Price: $0.53 (12/11/2017)
Exit Target: $3.25
Return: 447%
Stop Target: $2.10/ $1.60 (Stop Limits on half)
Action: Close a THIRD of the trade at current levels.
Resistance is at $47.25-$47.50 with a close above the latter setting up a run to $48-$50. Rising support is at $47-$46.25.
Bank of America (BAC, $29.50, up $0.05)
BAC January 30 calls (BAC180119C00030000, $0.55, flat)
Entry Price: $0.50 (12/8/2017)
Exit Target: $1.00
Return: 10%
Stop Target: None
Action: Resistance is at $29.50-$29.75. Support is at $29.25-$29.
Viavi Systems (VIAV, $8.88, up $0.06)
VIAV January 9 calls (VIAV180119C00009000, $0.30, flat)
Entry Price: $0.65 (11/29/2017)
Exit Target: $1.30
Return: -54%
Stop Target: None
Action: Resistance is at $9. Support is at $8.75-$8.50.
Twitter (TWTR, $25.18, up $0.10)
TWTR January 24 calls (TWTR180119C00024000, $1.80, flat)
Entry Price: $0.70 (11/22/2017)
Exit Target: $2.50 (closed half @ $1 on 12/18/2017)
Return: 100%
Stop Target: $1.20 (Stop Limit)
Action: Resistance is at $25.25-$25.50. Support is at $24.75-$24.50.