ACTIONS:
Buy to open the IWM May 128 calls (IWM150515C00128000, $0.90, up $0.05) at current levels.
Buy to open the QQQ May 110 calls (QQQ150515C00110000, $0.57, down $0.03) at current levels.
Buy to open the RMBS May 14 calls (RMBS150515C00014000, $0.38, up $0.03) at current levels.
Buy to open the RMBS August 15 calls (RMBS150821C00015000, $0.53, down $0.02) at current levels.
Dear Momentum Options Subscriber,
I have four New Trades for the portfolio this morning. Two of them are index option trades, while the other two are option trades on RMBS again.
iShares Russell 2000 (IWM, $125.25, up $0.23)
Buy to open the IWM May 128 calls (IWM150515C00128000, $0.90, up $0.05) at current levels.
I like these calls at current levels to play a possible run to $128-$130. These are the regular monthly options that expire on May 15.
PowerShares QQQ Trust (QQQ, $107.08, down $0.23)
Buy to open the QQQ May 110 calls (QQQ150515C00110000, $0.57, down $0.03) at current levels.
Thursday’s choppy action shook us out of our previous QQQ trade, so let’s try the QQQ May 110 calls at current levels. These are the regular monthly options that expire on May 15.
Rambus (RMBS, $13.41, up $0.05)
Buy to open the RMBS May 14 calls (RMBS150515C00014000, $0.38, up $0.03) at current levels.
Buy to open the RMBS August 15 calls (RMBS150821C00015000, $0.53, down $0.02) at current levels.
I like both of these options at current levels to play a possible run to $15+. The May calls are the regular monthly options that expire on May 15, and the August calls are the regular monthly options that expire on Aug. 21.
I will provide the parameters for each trade in the Mid-Market Update.
All prices given in this update are current as 9:50 a.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