We advise canceling your open order to buy put options in major oil and gas producer ConocoPhillips (NYSE: COP).
The stock dropped before we got the buy order to you last Thursday. So, if you stuck to our recommended limit price or better, you were not able to get filled on this trade.
As such, we will not be tracking this as an open position.
But before you cancel that order, we recommend you close an open trade…
Our system tells us it’s time to close our June Cameco Corp. (NYSE: CCJ) put options.
We grabbed a 70% gain on half of this trade back in May.
Unfortunately, a new wave of selling in the stock never materialized after that.
So, today, we’ll close the remaining half of this trade with a loss.
This highlights why we use a profit target to grab partial gains. It leaves us exposed to greater gains, but it also reduces our risk of loss if a winning trade turns against us.
Based on our recommended limit price, we’ll walk away with a small overall gain on the trade.
Your 1st Action to Take:
Sell to Close CCJ June $10 Put Options
Here are your details to complete this action:
Trade Recommendation |
|
Sell Action to Take |
|
Stock: |
Cameco Corp. (NYSE: CCJ) |
Option Type: |
Put Option |
Expiration: |
June 19, 2020 |
Strike Price: |
$10 |
Option Symbol: |
CCJ200619P00010000 |
Action: |
Sell to Close |
Order Type: |
Limit Order |
Duration: |
GTC (Good ‘Til Canceled) |
Limit Price: |
$0.15 (Anything above $0.15 is great.) |
Note: Do not place a market order. |
|
Your 2nd Action to Take:
CANCEL Your Buy-to-Open Order on COP July $44 Put Options
Here are your details to complete this action:
Trade Recommendation |
|
CANCEL Action to Take |
|
Stock: |
ConocoPhillips (NYSE: COP) |
Option Type: |
Put Option |
Expiration: |
July 17, 2020 |
Strike Price: |
$44 |
Option Symbol: |
COP200717P00044000 |
Action: |
CANCEL: Buy to Open |
If you have any questions about today’s instructions, email our team at apexprofit@banyanhill.com.
Good investing,
John Ross
Editor, Apex Profit Alert