Action Alert: Take Remaining Profits on VZ
Plus: MTB and RTH Looking Strong
PLAY: Sell your Verizon April 30 Puts (VZ PF) at market, good for the day.
Dear Bottarelli Research Member,
We’re seeing nice movement on many of our LEAPS plays.
For example, the Raytheon August 40 Puts (RTN TH) that we entered on March 2nd for $5.00 are currently trading between $7.00 and $7.20, good for a nice 40% return.
Plus, the M&T Bank July 30 Puts (MTB SU) that we entered on February 23rd for $6.00 are now trading for $7.50, good for a 25.00% return.
Be sure to lock in HALF of your profits if either of these plays hits the 50% profit level. In terms of today’s action, let’s go ahead and lock in the remainder of our profits on the Verizon April 30 Puts (VZ PF).
If you recall, we entered these puts on December 18th for $2.54, and we sold half of the position when they traded up to $3.80. This helped us to lock in a 49.61% gainer. As it stands now, we’re holding the second half of our position, and with the April expiration getting closer, I’d like to take our remaining profits off the table now. As I write, these puts are trading for $3.60, which is close enough to our designated profit level. Lock in the remainder of your profits now!
PLAY: Sell your Verizon April 30 Puts (VZ PF) at market, good for the day.
As always, I’ll have a new LEAPS pick coming out this Saturday (two picks this week, actually!) — plus a full update on all of our current positions. Stay tuned!
Sincerely,
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