MomentumOptions.com Mid-Market Update for 9/21/2017
Small-Caps Up/ New Trade (LLNW)
3:35pm (EST)
The S&P and Dow are down heading into the closing bell, while the Nasdaq continues to slid further, repeating the trend of underperformance seen from the tech-heavy index in recent days. If today’s pullback holds into the close it will break the winning streak for the Dow, which has risen for ten straight sessions.
The Dow is down 33 points to 22,378 while the S&P 500 is declining 4 points to 2,504. The Nasdaq is lower by 20 points to 6,435 and the Russell 2000 is up a half-point to 1,445.
I have a New Trade I want to get us into so let’s get on it.
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.
New Trade!
Limelight Networks (LLNW, $3.96, up $0.04)
Buy to Open LLNW December 4 calls (LLNW171215C00004000, $0.37, down $0.03)
Action: I like these call options at current levels and you can use a Limit Order up to 50 cents to get the best fills. These are the LLNW December 4 call options that expire on December 15th, 2017. I will provide the parameters of the trade in tomorrow’s Pre-Market Update.
Current Trades
Cisco Systems (CSCO, $32.78, up $0.18)
CSCO October 32 calls (CSCO171020C00032000, $0.85, up $0.10)
Entry Price: $0.50 (9/13/2017)
Exit Target: $1.00
Return: 70%
Stop Target: 58 cents (Stop Limit)
Action: Resistance is at $32.75-$33. Support is at $32.25-$32.
TherapeuticsMD (TXMD, $6.24, down $0.07)
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 $6.25. Resistance is at $6.50-$6.75.
TiVo (TIVO, $18.95, flat)
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: Support at $18.75. Resistance is at $19.25.