Sell Alert: August 22, 2013

| August 22, 2013

Sell Alert:  August 22, 2013

 

Trade Details

Sell Freeport-McMoRan (FCX) September $29 Calls for $2.52 or better

 

Why?

FCX gave us a little bit of a scare with the drop yesterday.  Fortunately, it’s right back up above the 200-day moving average as of this writing.  The stock seems to be running into heavy resistance at the $32 level.  And, it’s starting to look questionable whether the share price can breach the resistance by September expiration.

Let’s go ahead and take our profits off the table.  We’re looking at 131% gains on the trade.  Nothing wrong with that!

 

Recent Activity

Freeport-McMoRan

 

Category: OTW Sell Alerts