Lock in HALF of ICE Profits

Lock in 40% Gainer

By Bryan Bottarelli
Wednesday, October 01, 2008 3:00 PM EDT
Wed, 1 Oct 2008 19:00:00 GMT

PLAY: Sell HALF of your ICE October 85 Calls (ICE JQ) at market, good for the day.

Dear Bottarelli Research Member,

If you know me well enough, then you know that I simply cannot pass up the opportunity to lock in a 40% profit in less than two hours. That’s exactly the case we have right now with our ICE October 85 Calls (ICE JQ).

We entered these calls earlier today for $4.80 and they’ve now traded as high as $7.50. At the same time, the approval of the bailout plan tonight could send them shooting even higher. Hmm, instant profits versus the greed for even more profits. What do we do?

I’ll tell you. In case like this, I always fall back on the same advice: Sell Half.It’s the best way to have your cake and eat it too. Therefore, I’d like to lock in HALF of our ICE profits now, and hold the remaining half for more upside going into tomorrow.

ICE

PLAY: Sell HALF of your ICE October 85 Calls (ICE JQ) at market, good for the day. Hold the remaining half for more upside tomorrow.

*NOTE: If you consider yourself a move conservative trader, and you’re fully happy with a 40% gain, feel free to close out the entire position. No shame in that whatsoever.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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