Take RIG Profits!

Lock in Quick Gainer

By Bryan Bottarelli
Wednesday, August 13, 2008 3:36 PM EDT
Wed, 13 Aug 2008 19:36:00 GMT

PLAY: Sell your RIG September 130 Calls (RIG IF) at or above $7.60, good for the day.

Dear Bottarelli Research Member,

Let’s close off a strong 4 for 4 trading day by locking in profits on our RIG September 130 Calls (RIG IF).

We entered these calls earlier today for $6.80, and they’ve just established a new high at $7.80, good for an intra-day return of 14.7%. I still maintain an upside directional bias on the RIG chart, but similar to our Wachovia put position, the safe play here is to lock in our profits now. After all, we can always re-enter RIG calls tomorrow. But for today, let’s use this great pop to take our money and run!

PLAY: Sell your RIG September 130 Calls (RIG IF) at or above $7.60, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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