Taking Profits

Lock in ICE and VLO Gains

By Bryan Bottarelli
Monday, April 09, 2007 9:47 AM EDT
Mon, 9 Apr 2007 13:47:00 GMT

Dear Bottarelli Research Member,

Two of our call positions are ticking higher this morning — and I’d like to take advantage of the upside move to lock in some short-term profits.

First up, our speculative trade on the ICE May 135 Calls (ICE EW) traded as high as $6.50 in today’s action. As I write, shares of ICE are up over $2.00, so let’s lock in our profits:

PLAY: Sell your ICE May 135 Calls (ICE EW) at or above $6.40, good for the day.

Also moving higher is your VLO May 65 Calls (VLO EM). Your entered this position for $2.95 and the calls traded as high as $3.60, so let’s go ahead and lock in the gains here as well:

PLAY: Sell the VLO May 65 Calls (VLO EM) at or above $3.50, good for the day.

I’ll continue to monitor all of our other positions until any further action is warranted. But until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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