Trade Summary: March 6, 2017

| March 6, 2017

March 6, 2017

 

Trade Rationale

Once again, the markets continue trending higher… I feel like a broken record!
Don’t fight this trend.  The bank stocks have been very strong.  Let’s take a position here, and run with the trend.

What stocks do we want?  

Let’s look for the biggest and strongest stocks out there… Citigroup (C), JP Morgan (JPM), and Bank of New York Mellon (BK)!

So let’s get long a handful of bank plays…

 

Trade Details

#1) Buy JP Morgan (JPM) Jun 16th $97.50 Calls up to $2.30

We want JPM to move higher… Profit exit points are $98 and $102.  Exit at $85 or $82.50 to conserve capital.

JP Morgan

#2) Buy Citigroup  (C) Jun 16th $65 Calls up to $1.50

Take profits if C trades above $65, or for aggressive traders, $67.  For risk control, the conservative exit level is $58.  Lastly, $56 is the final exit level for aggressive traders.

Citigroup

#3) Buy Bank Of New York Mellon (BK) Jun 16th $50 Calls up to $1.30

A third call option this week… we want BK to move higher.  Profit levels are $49 and $52, conserve capital at $44 or $43.

Bank Of New York Mellon

 

Category: AOA Trade Summary

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