ACTION:
$1.35 Stop Limit triggered on the second half of the GOGO May 20 calls.
Dear Momentum Options Subscriber,
I have another Profit Alert on a trade that has banked us 88%. Although I’m disappointed that shares of Gogo (GOGO) have fallen back below $20, it was the second profitable trade we’ve had in the name in less than a month.
Our first Gogo trade made us 78% in February, and I will likely be back to trade this name again.
Gogo (GOGO, $19.77, down $0.30)
GOGO May 20 calls (GOGO150515C00020000, $1.35, down $0.25)
Entry Price: $0.85 (3/2/2015)
Exit Target: $2.25 (closed half at $1.85 on 3/5/2015)
Return: 88%
Stop Target: $1.35 (Stop Limit)
Action: The Stop Limit of $1.35 has triggered on today’s pullback. I will likely be back to trade this name, maybe as early today or next week, if current support holds.
All prices given in this update are current as 1:05 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