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Price Break Provides Option Profits in $EXPE
In our TNT Options Trading Service on May 6th, we talked about Expedia (EXPE). EXPE had made a series of lower highs since its February high, while also nearing an uptrend line from its December lows. The period of consolidation after EXPE dropped from its earnings report, put it near both its 50- and 200-day […]
In our TNT Options Trading Service on May 6th, we talked about Expedia (EXPE).
EXPE had made a series of lower highs since its February high, while also nearing an uptrend line from its December lows. The period of consolidation after EXPE dropped from its earnings report, put it near both its 50- and 200-day SMA’s. The question was, would the stock violate its uptrend, breaking down, or would it reverse and begin to make higher highs? The two scenarios and respective targets were outlined and all that was left was for opportunity to present itself.
Shares of EXPE would provide a quick entry to the downside on May 8, as they moved lower to close below their 200-day SMA at $123.69. The overall market, combined with earnings results from TipAdvisor (TRIP), set a bearish tone and by the end of the day, shares has bottomed intraday with an opportunity to roll the position.
The stock would continue to drift lower into Friday, offering another couple of opportunities to practice discipline and roll with momentum, before the week was out.
Subscribers took advantage of this opportunity and were able to profit anywhere from 33% to as much as 109%, both by rolling and using a strategy involving their flat-lines, discipline and momentum!