Take CHL Profits!
Lock in Quick 30% Gainer
Dear Bottarelli Research Member,
As you can see below, the price action on the China-listed names have continued to deteriorate this afternoon, and this has offered a nice boost to our China Mobile Limited (CHL – NYSE) puts from this morning. In fact, the CHL November 90 Puts (CHL WR) that we entered this morning for $4.60 have traded as high as $6.30, good for a 36% gain. Let’s lock in these gains now!
PLAY: Sell your CHL November 90 Puts (CHL WR) at or above $5.90, good for the day.
At the same time, let’s continue to hold your RIMM November 130 Calls (RUL KV) and your POT November 120 Calls (PYP KD), as any market turnaround will offer a nice boost to each stock. And just to further strengthen our downside position, it’s time to add puts on Infosys Technologies (INFY – NASDAQ).
As you can see from the chart below, the India-based consulting and call-service operator has just broken below its 50-day moving average, which means the stock could easily fall another $5.00 in the near-term. Let’s profit off this weakness using November puts. Here’s the play:
PLAY: Buy the INFY November 50 Puts (IUN WJ) at or under $3.00, good for the day. Current bid/ask spread is $2.75 to $2.85. Place a protective stop limit at $1.70.
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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