Take FLR & POT Profits!

Hold MCO & PCP

By Bryan Bottarelli
Wednesday, August 29, 2007 2:50 PM EDT
Wed, 29 Aug 2007 18:50:00 GMT

Dear Bottarelli Research Member,

I must say, the decision to add to our three September call positions is paying off handsomely today.

For anyone who bought the FLR September 125 Calls (FLR IE) or the POT September 90 Calls (PYP IR) yesterday, you’re looking at one-day gains of 44% and 36% respectively. And for anyone who originally bought these positions on August 20th and added to them yesterday, you’re showing a gain of 12% on each play. No matter when you entered these plays, given the volatility of today’s market, it’s a smart idea to use today’s great market rally to take these profits off the table now!

PLAY: Sell you rFLR September 125 Calls (FLR IE) at or above $4.30, good for the day.

PLAY: Sell your POT September 90 Calls (PYP IR) at or above $2.45, good for the day.

After locking in these gains, let’s maintain our PCP September 140 Calls (PCP IH) and our MCO September 50 Puts (MCO UJ). This gives us an equally balanced ledger of calls and puts — exactly what’s needed to prosper in today’s volatile market. Depending on how the trading session closes, I’ll be ready for the next series of upside calls or downside puts tomorrow. Until then…

Lock and load

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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