Close Alert: Xerox (XRX)
TRADE INSTRUCTIONS
Equity:
Name: Xerox
Symbol: XRX
Type: Sell
Limit: $26
Return: 23%
Option:
Name: Xerox July 19 Call Option
Symbol: XRX190719C00019000
Type: Sell to close
Limit: $6
Return: 100%
TRADE RATIONALE
Well, that was fast. Three weeks ago, I opened a long position in Xerox stock and the July 19 Xerox call option at the $19 strike with a limit price of $3. As of this morning, we have achieved our target return for each trade so I am closing them out. Earlier today, Xerox upgraded its earnings guidance for 2019. The stock jumped more than 8% as a result, above our target price of $25. Who knows, perhaps XRX will head even higher but as flukey as this market is, I’m booking my gain while it’s there for the taking!
Stock Talk
Melanie
Booking gains, thank you!
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Mark M
Thank you Jim!!!!
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Maria R
Thanks
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Daniel Long
XRX STC Jul 19 19 C for 7.85 at Fidelity.
Thanks, Jim.
DL
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Daniel Long
Jim, the XRX Jul 19 P 19 can be bought back for half of cost. What is your recommendation? Buy back or hold?
Thanks.
DL
Jim Pearce
Hi DL. Funny you ask, I’ve been looking at it today wondering the same thing. I am leaning towards closing it out this week since XRX has been so volatile. If I do, I’ll issue an Alert for Income Millionaire since that is where that trade was made.
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George McMillion
XRX STC for $7.75. Thank you Jim.
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JoeJB
Sold @ $7.90 Thanks great gain in a tough market
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Brian G.
Sold at 8.40. Only wish I had more than 1 contract. 🙂
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