In our Lighthouse Point Swing Trading Options Newsletter we highlighted JPM as our trade of the week.
The webinar below goes through the details of entering the trade. Ron Ianieri details the trade before the market opens and highlights what may happen to the stock as long as the market continues higher, sideways and fails. If you look at the stock today we are glad we took our profits in the trade last Thursday with the stock being down below our initial signal entry. We chose a close expiration which kept our initial cost down, but also increased the pressure for this move to happen quickly. Listen below to hear Ron explain why we chose JPM for an options trade last week.
Trade summary below.
OPTIONS TRADE SUMMARY:
So on Tuesday with a market that was opening bullish and JPM opening bullish we jumped in the Aug 25 90 calls for $1.5.
On Wednesday JPM proceeded to trade over $92 and Thursday we exited the 90 calls with an alert at 10am to sell at $2.15. This came out to profit $0.65 or 43% return on investment.
Here is the options trade alert that was sent at 10AM on 8-24: