Copper Takes Off – Moving Our Stop-Loss to Lock in Profits

Boy, are we glad we exercised our High Grade Copper July Call Option and are long Copper futures from 3.10 because over the last few days, Copper prices have shot up to ~3.27 (at the time of this post).   See Daily High Grade Copper chart below.

Previously, we put our Stop Loss at 309  (just below the support level of 3.0985 – see previous post:  Exercising Our Copper Option And Going Long).   Now that prices have shot up, we want to lock in those profits so we called our broker and had him move our stop-loss to just below the support level of 3.147 at 3.14.   If prices continue to rise, we will gradually move our Stop Loss up to lock in more profits.

Daily High Grade Copper futures - July2014

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