MomentumOptions.com Mid-Market for 12/12/2017
Record Highs Back in Play
3:10pm (EST)
The bulls are pushing fresh all-time highs ahead of tomorrow’s Fed update. Fed funds futures remain priced for a 25 basis-point increase in rates on Wednesday, and is about 60% of the way toward pricing in another tightening in March. The dot plot will likely show a tightening in Q1 and another during the year, and could even start to anticipate three increases.
Heading into the final hour of trading, the Dow is up 154 points to 24,540 while the S&P 500 is gaining 9 points to 2,669. The Nasdaq is lower by 2 points to 6,873 and the Russell 2000 is adding 2 points to 1,522.
I was hoping to add another position but I’m still doing homework. In the meantime, I have updated our current trades.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 54-22 (71%). All trades are dated and time stamped for verification. New subscribers can look at the past history to see how the trades have played out or to research our Track Records.
Do not risk more than 5% of your trading account on any one trade but do try to take all of the trades. Please remember, all “Exit Targets” and “Stop Targets” are targets. You should not have any “Hard Stops” entered to close any trades or “Exit Orders” in your brokerage account unless I list one. I will send out a “Profit Alert” or “New Trade” if I want you to close a position or if a new trade comes out. Otherwise, follow instructions at all times in the 8am and 12pm–2pm (EST) updates. Also, I will usually give you a heads-up if I think I’m going to send a Trade Alert outside of these time frames.
Spider Gold Shares (GLD, $118.08, up $0.07)
GLD January 117 puts (GLD180117P00117000, $1.00, flat)
Entry Price: $0.95 (12/11/2017)
Exit Target: $1.90
Return: 5%
Stop Target: None
Action: Resistance is at $118.50. Support is at $118-$117.75.
Intel (INTC, $43.45, down $0.21)
INTC January 45 calls (INTC180119C00045000, $0.50, down $0.05)
Entry Price: $0.53 (12/11/2017)
Exit Target: $1.10
Return: -6%
Stop Target: None
Action: Support is at $43.50-$43.25. Resistance is at $43.75-$44.
Bank of America (BAC, $29.36, down $0.42)
BAC January 30 calls (BAC180119C00030000, $0.65, up $0.15)
Entry Price: $0.50 (12/8/2017)
Exit Target: $1.00
Return: 30%
Stop Target: None
Action: Support is at $28.75-$28.50. Resistance is at $29.25-$29.50.
Viavi Systems (VIAV, $8.80, down $0.07)
VIAV January 9 calls (VIAV180119C00009000, $0.35, flat)
Entry Price: $0.65 (11/29/2017)
Exit Target: $1.30
Return: -53%
Stop Target: None
Action: Support is at $8.75-$8.50. Resistance is at $9.
Twitter (TWTR, $21.80, down $0.25)
TWTR January 24 calls (TWTR180119C00024000, $0.35, down $0.05)
Entry Price: $0.70 (11/22/2017)
Exit Target: $1.40
Return: -50%
Stop Target: 15 cents (Stop Limit)
Action: Resistance is at $22.25-$22.50. Support is at $21.75-$21.50.
TiVo (TIVO, $15.95, down $0.20)
January 20 calls (TIVO180119C00020000, $0.15, flat)
Entry Price: $0.60 (10/31/2017)
Exit Target: $1.20
Return: -75%
Stop Target: None
Action: Support is at $16-$15.75. Resistance is at $16.25.