Every week, I scan thousands of potential option plays to develop your exclusive list of Power Options. These Power Options rely on a proprietary, scientific approach that removes the guesswork and allows my powerful software to identify the best option buys.
In keeping with the market’s bullish trend, Northrop Grumman (NOC) is rating as an excellent buy, whether with stock or options. NOC’s short- and long-term trends are both showing continued upside ahead, with downside resistance currently sitting at $83.
Click to Enlarge Recommendation: Buy the NOC November $95 call options at $1.05 or lower. After entry, take profits if the stock price hits $91.60 or the option price reaches $2.10. Exit if the stock price closes below $86.30 or the option price falls to 70 cents.
If after three days you still have not gotten the position filled, cancel the order and watch for my new recommendations, as the profit probabilities may no longer be valid.
If a profit target is hit intra-day, exit and take profits immediately. Occasionally, if a sudden profit appears, we may recommend exiting a position early to capture the gains, and my team will alert you during the trading day via email or text message if you have elected to receive them.
If the position closes at or below the stock-based or options-based stop loss, exit the trade the next morning at the open.
Additionally, if an option has neither hit the stop-loss nor the target within three weeks of entry, close the position. I do not recommend holding an options play for more than three weeks.
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