Take Profits

HAS Shoots Higher

By Bryan Bottarelli
Wednesday, November 01, 2006 3:23 PM EST
Wed, 1 Nov 2006 20:23:00 GMT

Dear Bottarelli Research Member,

I just returned from the ethanol conference to see the markets have made a decisive move into the red. That is, all except for Hasbro (HAS – NYSE).

HAS

As you can see from the chart above, the stock continues to move higher. This strong up-move has pushed your HAS January 25 Calls (HAS AE) up to a high of $2.30, good for a 31.43% gainer off yesterday’s $1.75 entry price. With an upside move like that, I can’t help but take the gains off the table!

PLAY: Sell your HAS January 25 Calls (HAS AE) at or above $2.20, good for the day.

As a longer-dated play, we can always re-enter these same calls on any dips. But for now, let’s take our money and run! I’ve also noticed that GS has pushed lower today, reversing the morning gains that were present just as I left. You’ve seen just how quickly these calls can move — which means I’ll re-assess the speculative GS November 200 Calls (GPY KT) tomorrow. And of course, keep holding your DIA November 120 Put Hedges (DAW WP) as they’re now trading in the black!

Lock and load

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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