ACTIONS:
Buy to open the AXP March 84 calls (AXP150320C00084000, $0.75, up $0.19) at current levels.
Buy to open the AXP April 87.50 calls (AXP150417C00087500, $0.56, up $0.19) at current levels.
Dear Momentum Options Subscriber,
It’s time to strike the iron while it’s hot, as I have two New Trades for the portfolio. I could also have another Trade Alert in an hour, but I’m still doing the chart work and math to find the best option for us.
For now, I like an old favorite that we have traded numerous times in the past.
American Express (AXP, $82.15, up $1.29)
Buy to open the AXP March 84 calls (AXP150320C00084000, $0.75, up $0.19) at current levels.
Buy to open the AXP April 87.50 calls (AXP150417C00087500, $0.56, up $0.19) at current levels.
The recent selloff in AXP was excessive. I like these call options for a possible run past $85. The March options expire on March 20, and the April options expire on April 17. I will provide the parameters for each trade in tomorrow’s Pre-Market Update.
All prices given in this update are current as of 2:00 p.m. EST.
Every new Momentum Options recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.
Trade on!
Rick Rouse
Editor and Chief Options Strategist
Momentum Options