Sell Half of MBI
Book Strong Gainer
Dear Bottarelli Research Member,
Let’s use the selling pressure in the financial sector to lock in profits on half of MBI January 12 Puts (MBI MN). As you know, all eyes will be on the big meeting tomorrow in Jackson Hole. With Mr. Bernanke speaking, I don’t want to try getting clever. We entered these puts last week for $3.00, and they’ve now traded up to $4.10. Let’s take half of our profits off the table now!
PLAY: Sell half of your MBI January 12 puts (MBI MN) at or above $4.10, good for the day.
At the same time, let’s also sell the remainder of our DBA January 36 calls (DBA AJ). They hit a high of $4.00 today, so let’s lock in these gains as well.
PLAY: Sell the remainder of your DBA January 36 Calls (DBA AJ) at or above $3.80, good for the day.
Sincerely,
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