We have a new buy alert that has triggered… Our Hot Money Tracker spiked in Fastenal Company (NASDAQ: FAST). Hot Money is betting that prices will sink lower in the coming days. If Hot Money is correct, we could see these Fastenal Company puts quickly increase into a double or triple-digit gain. Here's what we're doing... We're buying to open the FAST September 20, 2019, $27.50 puts up to $0.75 per contract.

Action to Take:

In your brokerage account, locate the FAST September 20, 2019, $27.50 puts: The symbol is FAST190920P00027500. Search for options under the stock ticker: FAST. Make sure you choose the right option expiration (expiring on September 20, 2019). Choose the $27.50 strike price. Select "puts" options. Select how many contracts to buy. Once you have the right contract, click "buy to open." Choose "limit order." (This sets the max price you'll pay per contract). Use a limit of $0.75 per contract or better. Click "Day" for TIF (Time In Force). Then click "buy" to transmit the order. You can also call your broker and say, "I want to buy FAST September 20, 2019, $27.50 puts with a $0.75 limit or better; for the day."

Once in the trade we will be looking for: Stop Loss at $0.28 per contract.  -OR- Profit Target at $1.00 per contract.

Giddy up!

Joshua M. Belanger