Good Morning, Take Profits!
Lock in AZO and BEN Gains
Dear Bottarelli Research Member,
Yesterday, the markets opened higher and we locked in gains on Garmin (GRMN – NASDAQ) and Goldman Sachs (GS – NYSE). Today, the markets are opening lower, so I’d like to take the same approach and lock in gains on Franklin Resources (BEN – NYSE) and AutoZone (AZO – NYSE).
The AZO December 120 Puts (AZO XD) that we entered yesterday for $7.90 have traded as high as $9.00, good for a 17.1% return.
The BEN December 125 Puts (BEN XE) that we entered yesterday for $7.00 have traded as high as $8.20, good for a 15.7% return.
Given the recent choppiness in the markets, let’s use today’s early downside move to lock in gains on both positions!
PLAY: Sell your AZO December 120 Puts (AZO XD) at or above $8.80, good for the day.
PLAY: Sell your BEN December 125 Puts (BEN XE) at or above $8.10, good for the day.
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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