Take BSC Profits

Lock in Overnight Gainer

By Bryan Bottarelli
Wednesday, June 06, 2007 10:02 AM EDT
Wed, 6 Jun 2007 14:02:00 GMT

Dear Bottarelli Research Member,

The markets have opened to the downside, and this has pushed shares of Bear Stearns Companies (BSC – NYSE) down as we expected. As a result, the BSC July 150 Puts (BSC SJ) that we entered for $5.41 have traded as high as $6.30 today, good for a nice 17% gainer. Since it might be difficult for the markets to extend these losses for the entire day, let’s go ahead and lock in our gains now.

BSC

PLAY: Sell the BSC July 150 Puts (BSC SJ) at or above $6.30, good for the day.

Maintain your other positions — and I’ll be out with further trading instruction as the day moves on. And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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