SPWR Recovering

Lock In Remaining Profits

By Bryan Bottarelli
Friday, April 18, 2008 11:42 AM EDT
Fri, 18 Apr 2008 15:42:00 GMT

PLAY: Sell the second half of your SPWR May 100 Calls (QSU ET) at market, good for the day.

Dear Bottarelli Research Member,

If you were among the group that held the SPWR May 100 Calls (QSU ET) into their earnings report, then today’s recovery is music to your ears. As I write, SPWR is bouncing over $6.00 and these calls have traded back into the black. As I write, they’ve hit a high of $4.90, which is wonderful considering yesterday’s end-of-day sell-off (based on pretty darn good numbers, by the way).

SPWR

Given this situation, I’d like to sell the remaining half of the position and come out of the entire play with profits in hand. And in the future, I think I’ll set a standing rule that if a position is up over 50% in advance of an earnings report, always, always take at least some of the profits off the table without giving it a second thought!

PLAY: Sell the second half of your SPWR May 100 Calls (QSU ET) at market, good for the day.

In terms of new plays, I think its’ best to simply watch the movements of the markets for the rest of the trading day — and then we’ll begin our next series of plays next week. Of course, if something opportunistic presents itself, you’ll be the first to know. But until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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