MomentumOptions.com Mid-Market Update for 9/22/2017
Small-Caps Showing Strength
3:50pm (EST)
The market is off its lows as we head into the close with the small-caps a point away from an all-time high. It has been a super busy day and I apologize for the late update. I’ve been looking at possible new trades all day but next week could be a little choppy so I’ve decided to stay on the sidelines.
The Dow is down 14 points to 22,344 while the S&P 500 is gaining a point to 2,501. The Nasdaq is higher by a point to 6,423 and the Russell 2000 is advancing 6 points to 1,450.
I have updated our current trades so let’s go check the tape.
Momentum Options Play List
Closed Momentum Options Trades for 2017: 48-19 (72%). 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.
Limelight Networks (LLNW, $3.95, down $0.01)
LLNW December 4 calls (LLNW171215C00004000, $0.37, flat)
Entry Price: $0.37 (9/13/2017)
Exit Target: $0.80-$1.20
Return: 0%
Stop Target: None
Action: Resistance is at $4-$4.10. Support is at $3.80-$3.75.
Cisco Systems (CSCO, $33.42, up $0.72)
CSCO October 32 calls (CSCO171020C00032000, $1.50, up $0.65)
Entry Price: $0.50 (9/13/2017)
Exit Target: $1.00
Return: 200%
Stop Target: 70 cents (Stop Limit)
Action: Fresh resistance is at $33.50-$33.75. Rising support is at $33.
TherapeuticsMD (TXMD, $6.15, down $0.08)
TXMD December 7.50 calls (TXMD171215C00007500, $0.70, flat)
Entry Price: $0.95 (8/17/2017)
Exit Target: $1.90
Return: -26%
Stop Target: None
Action: Support is at $6. Resistance is at $6.25.
TiVo (TIVO, $19.27, up $0.27)
TIVO October 20 calls (TIVO171020C00020000, $0.45, flat)
Entry Price: $0.70 (8/8/2017)
Exit Target: $1.40
Return: -36%
Stop Target: None
Action: Resistance is at $19.25. Support at $18.75.