Follow-Up: Your Intel Profit Alert
If you're new to the New Money Club or have any questions about how to allocate positions or how to execute trades, watch this video first.
Dear New Money Club Member,
I must apologize.
Last night, Intel Corp. (Nasdaq: INTC) announced that it entered a $10 billion accelerated share repurchase agreement. The news sent shares soaring higher by 5% to $51.50 per share in the afterhours session.
This move would have sent our options contracts higher by 275%. But today’s market open couldn’t come soon enough.
Shortly after the opening bell, I sent out an alert to exit your Intel Corp. (Nasdaq: INTC) August 21, 2020, $50.50 call (INTC200821C00050500) at the market.
After sending that alert, prices dropped by $1 within minutes. This drop erased those big profits.
As you can see, our system was right on top of this move.
Unfortunately, markets move, and this move didn’t stick.
By the time you received the profit alert, you were likely to exit just a few cents higher than our initial entry. Certainly, not the nice 50% gain I emailed you to lock in.
I understand this is likely frustrating and a big letdown. Trading weekly options such as these are a challenge because they move so fast.
So going forward, we’ll stay away from these shorter-dated option opportunities and focus on trades that expire in the next three to six weeks.
That way, you have enough time to get in and out.
My mission is for you to get rich and learn a thing or two along the way.
I hope that makes sense, and I’ll talk to you all in tomorrow's August options expiration update.
As always, you can track our portfolio here.
To your wealth, freedom and options!
Joshua Belanger
New Money Club