FDX Triggers

Plus, Maintain PSA Sell Orders

By Bryan Bottarelli
Thursday, December 14, 2006 9:58 AM EST
Thu, 14 Dec 2006 14:58:00 GMT

Dear Bottarelli Research Member,

This morning, shares of FedEx (FDX – NYSE) opened to the downside as rumors of a coming OPEC production cut caused oil prices to gap up. This pushed FDX down, which subsequently allowed us to sell our FDX January 115 Puts (FDX MC) for $4.50. Since getting that sell price, FDX has jumped back up again, so leaving in our orders overnight (as instructed in yesterday’s alert) proved to be a good tactic. Congrats on a quick gainer!

FDX

Also maintain your $3.40 sell orders on your PSA March 100 Calls (PSA CT). At the open of today’s trading, shares of Public Storage (PSA – NYSE) are once again moving to the upside — and I’d like to lock in profits at the $3.40 level.

PLAY: Sell your PSA March 100 Calls (PSA CT) at or above $3.40, good for the week.

And finally, things continue to look good for Diamond Offshore Drilling (DO – NYSE). Any hint of an OPEC production cut, like we’re seeing this morning, will be a bullish catalyst for the oil sector — so let’s maintain our DO January 80 Calls (DO AP) for more upside gains. As I write, these calls are about to break the $6.00 level.

DO

And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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