Profit Zone – ADBE – 6/18/2020

Hi Profit Zone Traders!

Quick note. Both of these stocks were going on our Watchlist this week but moved into position before the usual Watchlist date. So, sorry for not giving an early warning. It happens sometimes. Here are the trades:

NEXT TRADES

SYMBOL: ADBE

TYPE: Call

STRIKE:  $420

EXP:  OCT 16

ENTRY:  $32.90 or better

TARGET:  Consider exiting or moving to break-even when stock price

moves above $462

STOP:  Consider exiting when stock drops below $370

ADBE (Adobe) is, obviously, an expensive stock and carries an expensive option. If this price is too big for your account, just pass on this one and move on to the next trade. Because of its price tag, this trade won’t go on the Track Record.

SYMBOL: ETSY

TYPE: Call

STRIKE:  $90

EXP:  SEPT 18

ENTRY:  $9.20 or better

TARGET:  Consider exiting or moving to break-even when stock price

 moves above $103.90

STOP:  Consider exiting when stock drops below $69.35

ETSY has thrived in the current economic environment. A big bullish bar could signal a big run upward.