Keep the Profits Rolling!

Take VLO Profits

By Bryan Bottarelli
Thursday, February 22, 2007 11:00 AM EST
Thu, 22 Feb 2007 16:00:00 GMT

Dear Bottarelli Research Member,

We started the day off nicely with our trade on RIG March 80 Calls (RIG CP), so why not keep the profits rolling with Valero Energy (VLO – NYSE)?As I write, VLO is moving higher by $0.82, which has pushed your VLO June 60 Calls (VLO FL) up to a high of $3.23. Considering our $2.60 entry price, that’s good for another overnight gainer of 21.88%.

VLO

As you can see by the chart, the stock is continuing its upside move above the 200-day moving average. Although we have June contracts (which offer us plenty of time to witness a continued upside move) let’s use today’s upside momentum to take our quick profits off the table. After all, we an always re-enter the position on dips. Here’s the play:

PLAY: Sell your VLO June 60 Calls (VLO FL) at or above $3.20, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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