September 2, 2020 - MDT Alert (CERN)

CERN has made a jump today and I am going to suggest you book the profit on the position.

This is mainly because of a technical condition. It is right up against the upper band band on the 60-minute chart and it seems to be a great place to book the profit.

Here is how you close the position:

Sell to Close September 19th - $72.50 Call for $3.60

Buy to Close September 19st - $77.70 Call for $.70

The net credit will be $2.90 per spread. When the trade was initiated, the debit was $1.35 per spread, so this results in a profit of $1.55 per spread.

If you traded the suggested 8 lot, the overall cash return will be $1,240 on an investment of $1,080.

This works out to a return of 115% for about 2 weeks.

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