Grab Your Gains on Qualcomm (QCOM) Stock

Our alternative on Qualcomm (Nasdaq: QCOM) has been a wild experience.

We’ve been up 50%, down 50% … and now we’re sitting on modest 13% achieve per week earlier than it’s set to run out.

When you’ve caught with us and made this commerce, congrats! With us so near expiration, it’s time to go forward and take our income off the desk.

We bought the January 15, 2021 $145 name choices on Qualcomm.

As we speak, these choices are buying and selling proper round $10 a share, give or take some change relying on once you get an opportunity to exit the commerce.

The underside line is that we wish to exit right now, and thru our Weekly Choices Nook, we’ve mentioned all the pieces that you must know.

So I like to recommend you place a “Promote to Shut” order to exit our Qualcomm commerce right now.

Make sure you take a look at the bid and ask prices earlier than you place your order. It’s at $10 bid and $10.20 ask as I write this. We’ve talked about these costs earlier than. When promoting an choice, you wish to get the best value that you may.

We also recommend using limit orders when selling out of trades. On this case, we advocate beginning with a restrict order round $10.10 or a little bit larger.

If it doesn’t get crammed, you possibly can regulate it decrease, primarily based on the place the present bid and ask are at. You could have to decrease it to $10, or $9.90, or perhaps a little decrease if the inventory slides.

On the finish of the day, that is an choice we’re able to exit.

Within the last week of the choice, costs can swing wildly. And if the inventory falls simply 5%, we’d lose 100% of our income. So, though our achieve isn’t as a lot as we anticipated, I’m pleased to take a double-digit achieve from this commerce.

So let’s exit right now with a revenue forward of the expiration subsequent week.

That’s all for right now.

I’ll be again along with your common Weekly Choices Nook tomorrow to elucidate how I’m beginning 2021 in my No. 1 choices technique.


Chad Shoop

Chad Shoop, CMT

Editor, Quick Hit Profits

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