ACTION:
The Limit Order to sell to close the first half of the FCX June 23 calls at $1.10 has triggered.
Dear Momentum Options Subscriber,
I have another triple-digit Profit Alert for the portfolio, as shares of FCX are making a run at $23. This is a reminder that you should be ringing the register on the first half of the trade.
Freeport-McMoRan (FCX, $22.70, up $0.88)
FCX June 23 calls (FCX150619C00023000, $1.10, up $0.30)
Entry Price: $0.55 (4/27/2015)
Exit Target: $1.10, raise to $1.60
Return: 100%
Stop Target: $0.63, raise to $0.90 (Stop Limit)
Action: Shares of FCX caught an upgrade this morning and have cleared $32. The Limit Order to close the first half of the trade at $1.10 has triggered.
Raise the Stop Limit from $0.63 to $0.90 on the second half of the position. Also, raise the Exit Target from $1.10 to $1.60.
All prices given in this update are current as 10:15 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