We have a Profit Alert for our Weekly Wrap as we are locking-in a nice double-digit gain on Boston Scientific (BSX, $13.62, up $0.28). Shares are setting fresh 52-week peaks and we went long with the January 13 calls (BSX140118C00013000, $0.62, up $0.25) when the stock was just above $12.
These options expire tomorrow and while there could be further gains in these options, we will likely “roll” the trade over into February of March options instead of dancing with the devil. The trade was down 44% coming into the week and we said there was a good chance we could still make a profit as the chart was showing a continued move higher. We set limit orders to close the trade at 60 cents and the return was 33%.
We are now 3-0 for the Weekly Wrap for 2014 and 88-7 overall for an incredible success rate of 93% for the publication. We have another current trade that is up 250% as shares have just moved back above $7. There could be a big move tomorrow and it is also a current option trade for our Daily.
Subscribers, check the Weekly Wrap Premium section for the update and to see how we can play further upside in the stock.