Going to a GOGO!

GOGO chart

Chart by Steven Sarnoff, h/t stockcharts.com

OPTIONS HOTLINE Reco Update, FYI:
+53% in 1 week on GOGO calls!

With apologies to Smokey Robinson and to the Rolling Stones, our recommended option play this month was emailed to subscribers on October 1st.

The GOGO December $10 call triggered 10-01-20 at $1.70, closed 10-09-20 at $2.60, +53% in a week, with an always known and strictly limited risk!

As you can see from my daily candlestick chart above,  GOGO shares look ready to get going and go higher. 

Friday’s strongly positive red candle (open low, close high) implies the likelihood, but not the certainty, of a continued move up.

Underlying support is now at $9.00-$10.54.  Resistance is at $12-$13 and $15.

When it was triggered, GOGO was at $9.65 and the December $10 call option had no intrinsic value, its price was only for time and volatility.  Each $1.00 above $10 for GOGO shares gives each $10 call option another $100 (because each option is for 100 shares) of real value in addition to any time value. If GOGO is at or below $10 on the third Friday in December, the option will expire worthless.  That is the risk.

Risk is limited but it’s high, as it should be for the opportunity to earn high returns.  Only speculate with money you can afford to lose.

I can’t guarantee that all my recos will go like GOGO, but I do promise to continue to my best to find option winners for you.

Since 1989, we’ve been helping our readers practice sensible speculation.  Subscribe to Options Hotline today to stay a step ahead of the crowd.

Let me know if you have any questions.  I always enjoy hearing from you, even when you tell me my picks are crazy.  Our email never sleeps.

Stay safe!

Best regards,

Steve

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