Sell Alert: 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!
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Category: OTW Sell Alerts