Take AMGN Profits

Lock in 25% Gainer

By Bryan Bottarelli
Thursday, October 23, 2008 10:09 AM EDT
Thu, 23 Oct 2008 14:09:00 GMT

PLAY: Sell your AMGN November 50 Calls (AMQ KJ) at or above $6.00, good for the day.

Dear Bottarelli Research Member,

Over the first 30 minutes of trading, shares of Amgen (AMGN – NASDAQ) have continued to push higher. As I write, the AMGN November 50 Calls (AMQ KJ) that we entered for $4.80 have traded as high as $6.00, good for a quick 25% gainer. Let’s go ahead and lock in these profits now.

AMGN

PLAY: Sell your AMGN November 50 Calls (AMQ KJ) at or above $6.00, good for the day.

Unfortunately, the news is not as good for our WFT November 15 Calls (WFT KC).While I continue to feel that shares of WFT are a steal at current levels, these calls have triggered our $1.30 stop. Therefore this position is closed.

I’ll be out with further updates as the day progresses. But until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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