Lock in IBKR Gains

Take Modest Gains, Call It A Week

By Bryan Bottarelli
Friday, February 01, 2008 2:32 PM EST
Fri, 1 Feb 2008 19:32:00 GMT

PLAY: Sell your IBKR March 35 Calls (QBO CG) at or above $2.15, good for the day.

Dear Bottarelli Research Member,

It’s been a slow Friday on Wall Street. Maybe it’s just my reaction to the tremendous volatility we’ve seen lately, but today’s narrow trading range has many traders looking forward to early next week’s action. That’s when we’ll really see the ramifications of today’s poor economic data. In fact, many are already calling today’s net reduction in U.S. non-farm payrolls the “smoking gun” that proves that we’re in a recession. And if that’s the case, I certainly feel comfortable holding DIA puts going into next week. But in the meantime, let’s go ahead and lock in our modest gainer on the IBKR March 35 Calls (QBO CG).

IBKR

Although I mentioned that I was targeting $2.30 sniper sell price, it now makes sense to lock in the available prices at $2.20 and lock in our 18.91% gainer. The IBKR chart still looks strong, especially with shares hitting another new 52-week high today. But in this market, you know that taking quick profits is definitely the safest play, so let’s go ahead and lock in our gains now.

PLAY: Sell your IBKR March 35 Calls (QBO CG) at or above $2.15, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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