Closing Out Do

Maintain DRYS, BEN, BX

By Bryan Bottarelli
Friday, August 03, 2007 2:32 PM EDT
Fri, 3 Aug 2007 18:32:00 GMT

Dear Bottarelli Research Member,

While most of our current positions are looking fine today, it’s unfortunately time to close out our DO August 105 Calls (DO HA). As you can see below, the stock has been unable to find support at the $100 level, which has lead to another round of selling pressure today. This trading pattern violates the parameters of the trade, so if you haven’t already done so, go ahead and close out this call position now.

DO

On the flipside, I’m comfortable holding our BEN August 125 Puts (BEN TE), DRYS August 60 Calls (DQR HL), and BX September 25 Puts (BX UE).

DRYS

All three plays look like they’ll hand us profits next week (especially DRYS) so continue to maintain all three of these positions into next week’s trading. Have a good weekend, and until next week:

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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