Extreme Trade Updates (9/3/18)
September 3, 2018The following trades remain on hold:
Applied Materials (AMAT) stock — $49.90
AMAT currently trades at $43.02. Continue to hold.
Canopy Growth (CGC) $29.75 and $29.66 — exited half of each position
It’s time to take our wins on Canopy Growth (CGC). The stock is now up to $45.72 and is overdue for a near-term correction. Instead of risking our returns, sell both CGC positions here to secure the win now. Congratulations on a quick win.
iQIYI Inc. (IQ) stock – $30.85 entry
IQ September 21, 2018 35 calls — $3.50 entry
IQ now sits at $28.90 a share. Hold both trades.
Okta Inc. (OKTA) stock — $51.25 entry
OKTA is now up to $61.83 and remains on hold at this time. We already exited the calls on this trade for a win.
Adobe Systems (ADBE) — $248.96
The stock now sits at $263.51 and remains a hold. We have a near-term price target of $280.
Raytheon (RTN) — $187.12
RTN is back up to $199.50. Hold the stock with a near-term price target of $210.
Twitter (TWTR) — $32.68
TWTR September 21, 2018 33 calls — $1.85
TWTR is just beginning to rebound and pivot higher. It now trades at $35.18. We may look to take wins on the call options shortly. Stay tuned.
Facebook (FB) stock– $175.84
FB September 21, 2018 180 calls — $4.80
The stock is now up to $175.80. Both trades remain on hold at this time.
Barrick Gold (NYSE:ABX) — $10.25
ABX January 18, 2019 10 calls — $1.01
As gold begins to rebound higher, related stocks are beginning to push higher. We have a near-term price target of $11.50 on ABX.
Micron Technology (NYSE:MU) — $49.85
MU October 19, 2018 52.50 calls — $2.46
MU just bounced to $52.52.. If the stock can break above prior resistance at $53, we believe the stock could push to $58 shortly. Hold.
Weight Watchers (NYSE:WTW) — $73.87
WTW October 19, 2018 80 calls — $2.85
Still oversold, we have a near-term price target of $92.50. That would refill its bearish gap from August 6, 2018. Hold.