Lock in Put Gainers

Sell X, FLR, and CLF

By Bryan Bottarelli
Wednesday, June 27, 2007 9:41 AM EDT
Wed, 27 Jun 2007 13:41:00 GMT

Dear Bottarelli Research Member,

The wild volatility swings continue, so let’s quickly lock in some profits.

First off, let’s lock in gains on our X July 110 Puts (X SB). We entered them yesterday for $5.00 and they traded as high as $6.50 today, so let’s lock in the gain.

PLAY: Sell your X July 110 Puts (X SB) at or above $6.20, good for the day.

Secondly, let’s also lock in gains on our FLR August 105 Puts (FLR TA). We entered them on June 25th for $5.40 and they traded as high as $6.40 today, so let’s lock in this gain as well.

PLAY: Sell your FLR August 105 Puts (FLR TA) at or above $6.40, good for the day.

We’ve also triggered a stop on our CLF July 80 Calls (CLF GP). We did have a nice gain on this play, but I decided to let it run to maximize our profits. This proved to not work in this volatile environment, so let’s close this position and look to re-enter if we witness any support levels.

I have some additional play candidates on the horizon, so keep an eye out for them today. Until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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