The stock market rally stalled for the S&P 500 and the Russell 2000 index. Yet profit taking was relatively shallow with traders still in a buy-the-dip mood.
This week could be volatile if investors don't like what they hear from the FOMC statement, the Q2 GDP estimate, or the July jobs report. Traders may want to double check their stop loss placement or consider taking some profits off the table.
Our plan was to exit the INTC trade on Monday, July 22nd.
We also closed the 2014 Citigroup (C) calls on July 22nd.
BAC hit our exit target for the 2014 calls on July 23rd.
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.