A Morning Pop

Use Strength to Exit ICE and LVS

By Bryan Bottarelli
Wednesday, May 23, 2007 9:35 AM EDT
Wed, 23 May 2007 13:35:00 GMT

Dear Bottarelli Research Member,

The futures pointed to yet another strong open — so I’d like to capitalize on any early-session strength to take profits on two of our call positions.

InterContinental Exchange (ICE – NYSE) continues to blast higher, pushing the ICE June 150 Calls (IHH FJ) that we entered for $8.50 up to $9.50. Let’s go ahead and take our profits off the table.

ICE

PLAY: Sell your ICE June 150 Calls (IHH FJ) at or above $9.50, good for the day.

I’ve also received some emails from Charter Members using our RSS system that indicated that they were able to enter the ICE June 145 Calls (ICE FY) for $5.50. If that’s the case, these calls closed for $11.20 yesterday, so take your gains off the table!

*NOTE: See https://www.bottarelliresearch.com/RSS.asp for more information on our RSS feed.

Also opening to the upside is Las Vegas Sands (LVS – NYSE). The LVS June 80 Calls (LVS FP) that we entered for $3.20 have traded as high as $3.70, so let’s use the upside momentum to take our profits off the table on this one as well.

PLAY: Sell your LVS June 80 Calls (LVS FP) at or above $3.70, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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