Take WYNN Profits

Lock in 20% Gainer

By Bryan Bottarelli
Friday, January 04, 2008 9:36 AM EST
Fri, 4 Jan 2008 14:36:00 GMT

PLAY: Sell your WYNN January 105 Puts (UWY MA) at or above $5.70, good for the day.

Dear Bottarelli Research Member,

Pre-market futures were showing a nice gain — and then the U.S. employment report for December hit the tape and the futures fell off a cliff. As a result, the markets are opening solidly in the red.

INDU

Now, let’s keep a level head and continue to hold our POT January 150 Calls (PYP AJ) and our FLR January 155 Calls (FLR AK). Each of these two positions represents extremely strong companies that should recover in the following days. In fact, if I see signs of market stabilization later in the afternoon, I may add to each of these two positions.

But until then, let’s use this early weakness to lock in gains on our WYNN January 105 Puts (UWY MA). As you recall, we entered these puts yesterday for $4.80 and they’ve now traded as high as $5.80 today. That’s good for a nice 20% winner, so let’s lock it in now!

PLAY: Sell your WYNN January 105 Puts (UWY MA) at or above $5.70, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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