Earlier today, our Akamai Technologies (Nasdaq: AKAM)November $67.50 call options climbed above our price to secure a 50% gain after just one day!
That is a remarkable gain in such quick fashion.
Sticking with our strategy to manage our positions, we’re going to place a stop to secure at least 10% on the second half of this position.
Keep in mind that the trade directions below are based on our official entry price of $1.92. So be sure to place your stop-loss order at whatever price nets you a 10% gain based on your individual entry price — and remember to use a stop-loss order. Otherwise, your trade could be triggered right away, and we want to ride this rally higher.
I’m also aware that the market is closed at the moment. You can place these orders now, and they will be in place when the market opens.
Here’s your action to take to place this stop:
|Action to Take|
|Sell Action to Take|
|Stock:||Akamai Technologies Inc. (AKAM)|
|Option Type:||Call Option|
|Action:||Sell to Close|
|Order Type:||Stop-Loss Order|
|Duration:||GTC (Good ‘Til Canceled)|
|Trade Deadline:||Keep this order open until it is filled or canceled.|
I’ll continue to keep you updated on this trade. If it keeps rallying, we will look to adjust our stop-loss higher. Just keep an eye out for my alerts.
Until next time, good trading…
Editor, Earnings Drift Alert