In the Money Countdown subscribers scored a 111% profit
In-The-Money Countdown subscribers scored a speedy profit with our American Express Company (NYSE:AXP) weekly 5/10 225-strike call recommendation, which they received on Sunday, May 5. Below, we will dive into the telltale signs behind this winning trade.
At the time of our recommendation, shares had retraced 38% of their post-earnings reaction, finding potential support at the rising 20-day moving average and their March peak. The rising 50-day trendline, which coincided with with its 20% year-to-date level, also seemed like a potential floor.
Options were priced in at the 12th percentile of the security's 12-month range, and an annual shareholders meeting was set for May 6. What's more, American Express stock looked to be a good target for premium buyers, per its Schaeffer's Volatility Scorecard (SVS) of 86 out of 100. In other words, it had regularly made bigger moves than traders priced in over the past 12 months.
Shares were last seen 1.3% lower at $239.15, but our traders exited their positions on May 10, scoring a 111% profit after the stock enjoyed five-straight positive sessions -- a perfect week.
