ACTION:
Set a Limit Order to sell to close the LSCC December 7.50 calls at $0.90.
Dear Momentum Options Subscriber,
I have an update for our current Lattice Semiconductor (LSCC) trade, as the company has received a buyout offer this morning.
Lattice Semiconductor (LSCC, $6.37, up $0.06)
LSCC December 7.50 calls (LSCC161216C00007500, $0.28, down $0.02)
Entry Price: $0.30 (10/12/2016)
Exit Target: $0.90 (Limit Order)
Return: -7%
Stop Target: None
Action: Set a Limit Order to sell to close the trade at $0.90 on the open this morning.
The company got a buyout offer for $8.30 a share this morning.
The options might “cap” at $0.80, as the strike price is at 7.50. If so, I will provide an additional update after the open or in the Mid-Market Update.
I hereby disclose that I will be participating in the aforementioned trade(s).
Trade on!
Rick Rouse
Editor and Chief Options Strategist
Momentum Options