ACTIONS:
Take profits and sell to close the first half the QQQ May 110 calls at current levels.
$1.30 Stop Limit triggered on the second half of the CMCSA May 60 calls.
Dear Momentum Options Subscriber,
What a great way to kick off a Monday, as I have Profit Alerts for two of our current positions.
One is a partial Profit Alert on our QQQ trade, which is up 46%.
The other trade on CMCSA returned 31%, as the Stop Limit has triggered. We closed the first half of the trade last week.
PowerShares QQQ Trust (QQQ, $108.27, up $0.52)
QQQ May 110 calls (QQQ150515C00110000, $0.83, up $0.18)
Entry Price: $0.57 (4/10/2015)
Exit Target: $0.85-$1.15 (Limit Order on first half at $0.85)
Return: 46%
Stop Target: $0.60 (Stop Limit)
Take profits and sell to close the first half the QQQ May 110 calls at current levels.
The Limit Order to close the first half of the trade at $0.85 hasn’t triggered, but this is close enough.
Continue to hold the second half, but set a Stop Limit at $0.60 to protect profits.
Comcast (CMCSA, $59.37, down $0.44)
CMCSA May 60 calls (CMCSA150515C00060000, $1.20, down $0.25)
Entry Price: $1.05 (4/6/2015)
Exit Target: $2.10 (closed first half at $1.55 on 4/10/2015)
Return: 36%
Stop Target: $1.30 (Stop Limit)
The Stop Limit of $1.30 has triggered on the second half of the CMCSA May 60 calls with today’s pullback. The overall return was 36%.
All prices given in this update are current as 10:20 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