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Price Break Provides Option Profits in $V
In our TNT Options Trading Service on January 7th, we talked about Visa (V). After watching the trend and the overall market, we suggested simple targets for $V if it should break above either its $136.30 flat-line and the 50-day SMA OR below its 200-day SMA. Leading up to the next trading day, the shares […]
In our TNT Options Trading Service on January 7th, we talked about Visa (V).
After watching the trend and the overall market, we suggested simple targets for $V if it should break above either its $136.30 flat-line and the 50-day SMA OR below its 200-day SMA. Leading up to the next trading day, the shares of $V had closed right below the resistance levels, providing opportunity to allow the stock to decide which direction it was going throughout the week:
From its run off the Christmas Eve low of $121.60 to January 7th’s close at $136.06, the first upside target was a $140.00 flat-line with the 100-day SMA lurking just above. $V opened significantly higher the following day but pulled back to test its 50-day SMA from above and wound up settling just above that level, and above its $136.30 flat-line. On Wednesday, $V made a nice little run for its $140 flat-line but was stopped short of it by shorter-term resistance. Nimble subscribers rolled their calls at that point, after taking advantage of the move and were able to profit anywhere from 45% to as much as 85% by playing the flat-lines and direction of the underlying!