Action Alert: Take DECK Profits!
Plus: Two Symbol Changes
PLAY: Sell half of your DECK September 90 Puts (QUK UR) at market, good for the day. Hold the remaining half for further upside gains.
Dear Bottarelli Research Member,
Every once in a while, an extended LEAPS contract changes symbols to account for new expiration months being listed in the intermediate term. Therefore, in an effort to keep you up to date on our current symbol listings, please note the two LEAPS symbol changes below.
- Companhia Vale do Rio Doce January 37.5 Calls: RFP AU
- Entergy January 140 Calls: ETR AH
Now to the more important news. This morning, we entered into a new downside put play on the DECK September 90 Puts (QUK UR). Since the market made an aggressive upside gap, we were able to pick up these puts for the great entry price of $4.30. In the hours that followed, shares of DEC K have turned south, and these puts have now traded as high as $6.20. That’s good for a 44% gain in a matter of hours, and in a market like this, I’d like to lock in a portion of these profits now.
Now I understand that our first “take half” trigger level falls at the 50% profit mark, but with 44% profits in hand right now, it’s not worth trying to squeak out for the remaining 6%. Therefore, as a new LEAPS action alert, let’s lock in HALF of our DECK profits now!
PLAY: Sell HALF of your DECK September 90 Puts (QUK UR) at market, good for the day. Hold the remaining half for further upside gains.
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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