Take Fast Profits

WBMD Puts Shooting Higher

By Bryan Bottarelli
Wednesday, August 02, 2006 11:25 AM EST
Wed, 2 Aug 2006 16:25:00 GMT

Dear Bottarelli Research Member,

Yesterday afternoon, I issued a super-fast downside play on WebMD (WBMD – NASDAQ). I said that I expected to implore a quick trigger finger on this one, and that’s completely the case toady. As I write, WBMD is down over $1.00, pushing the WBMD August 40 Puts (QWB TH) that some fast traders entered for $2.85 all the way up to $3.70 to $4.40. That’s a solid 40% gain in one day, so if you were able to enter this play, it’s time to take your profits now!

WBMD

PLAY: Sell the WBMD August 40 Puts (QWB TH) at or above $3.70, good for the day.

Current bid/ask spread is $3.70 to $4.40, so you should shoot for a $4.00 fill price and scale down if that does not trigger.

Lock and load

Sincerely,

Bryan Bottarelli
Editor, Bottarelli Research
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