Action Alert: Take WFC Profits!
Take 25% Gainer
PLAY: Sell your Wells Fargo January 2009 30 Puts (WFC MF) at market, good for the day.
Dear Bottarelli Research Member,
If you recall, we positioned ourselves to profit off the falling financial sector by entering the Wells Fargo January 2009 30 Puts (WFC MF) on August 25th for $4.40 per contract. But since making that play, we’ve fought against some difficult tail-winds, including a ban on short-selling that included shares of WFC. As a result, we pretty much held our water on this position. But today, that short-selling ban has officially ended. And this is finally pushing shares of WFC lower. I’d like to take advantage by locking in our profits.
As I write, your WFC puts have traded as high as $5.50, good for a 25% gainer. Let’s lock in these gains now!
PLAY: Sell your Wells Fargo January 2009 30 Puts (WFC MF) at market, good for the day.
Further updates will come your way in this Saturday’s newest LEAPS bulletin.
Sincerely,
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