Take MCO and ICE Profits

Lock in Two Call Winners

By Bryan Bottarelli
Wednesday, March 15, 2006 11:06 AM EST
Wed, 15 Mar 2006 16:06:00 GMT

PLAY: Sell your MCO May 65 Calls (MCO EM) at or above $5.70, good for the day.

PLAY: Sell your ICE April 70 Calls (ICE DN) at or above $6.00, good for the day.

Dear Bottarelli Research Member,

At the open of today’s trading, both the SPY and the DIA broke out to new 52-week highs. In fact, we’re now sitting at levels we haven’t seen since 2001.

While this is a good technical sign for the markets, there’s plenty of fear out there about a coming breakdown. While we remain stuck in this game of inflation fears versus new market highs, let’s use today’s rise to take two of our recent gainers off the table.

First up, your Moody’s May 65 Calls (MCO EM) have traded as high as $5.90 today. That’s a nice 25% gain from your $4.70 entry price. MCO just hit a fresh 52-week high at $69.70, so let’s take the profits!

MCE

PLAY: Sell your MCO May 65 Calls (MCO EM) at or above $5.70, good for the day.

Also jumping higher is your speculative place on Intercontinental Exchange (ICE – NYSE).After yesterday’s extreme highs and lows in the stock, I don’t want to play any games with this baby. The stock is up $1.88 as I write and the April 70 Calls (ICE DN) you bought for $5.30 have traded as high as $6.20. Let’s take the quick profits!

ICE

PLAY: Sell your ICE April 70 Calls (ICE DN) at or above $6.00, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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