Equities are growing more and more overbought. Veteran traders know that we're going to see a correction eventually and probably sooner rather than later.
We closed our M trade as planned on Monday, May 13th.
Tonight I am suggesting we exit our 2014 Ford calls, the 2014 HON calls, and the 2015 MRK calls immediately on Monday morning.
I have updated stop losses on: F, HON, and LOW
Disclaimer: At any given time the author may have positions in any or all of any companies mentioned in the Leaps Newsletter.
--Position Summary Table--
Table lists Directional CALL or PUT/LEAPS only.
Insurance puts, if applicable, are not shown.
Red symbol/name represents a play or option position exited or closed this week.