Action Alert: Lock in VIX and CCI Profits

Lock in 50% and 90% Winners

By Bryan Bottarelli
Monday, September 29, 2008 9:52 AM EDT
Mon, 29 Sep 2008 13:52:00 GMT

PLAY: Sell the second half of your CCI April 35 Puts (CCI PG) at market, good for the day.

PLAY: Sell your CBOE Volatility Index October 25 Calls (VIX JE) at market, good for the day.

Dear Bottarelli Research Member,

At the open of today’s trading, the major market averages are once again falling — as the inability of Congress to shed any details on the bailout plan is sparking a new rash of investor uncertainty. Because of this fall, we’ve seen our profits extend on a handful of our downside positions, so I’d like to use this opportunity to lock in further profits now. After all, we could see a strong bounce on any forthcoming bailout clarify, so I’d rather be proactive and lock in our put gains now.

The first downside play is our Crown Castle International April 35 Puts (CCI PG). We entered this position on September 22nd for $3.90 and it has now traded as high as $6.00, good for a 53.85% gainer. Lock in your profits now!

CCI

PLAY: Sell the second half of your CCI April 35 Puts (CCI PG) at market, good for the day.

The second downside play is our CBOE Volatility Index October 25 Calls (VIX JE). We entered these calls on July 7th for $2.80 and they’ve now traded as high as $5.50, good for a 96.43% gainer. Lock in your profits now!

VIX

PLAY: Sell your CBOE Volatility Index October 25 Calls (VIX JE) at market, good for the day.

Congrats on two down-market winners!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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