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PLAY: Sell your MTB February 45 Puts (MTB NI) at or above $5.70, good for the day
Dear Bottarelli Research Member,
Another day, another fear.This morning, jitters are coming from Bank of America (BAC – NYSE), and the stock is getting crushed, down 18% as I write. The largest U.S. bank now needs billions more federal taxpayer support to continue their operations, and this is pushing the entire banking sector lower once again. This is exactly why we entered the MTB February 45 Puts (MTB NI) yesterday for $4.90. As of this morning, they’re currently trading between $5.70 and $6.00 per contract, good for a quick 18% to 22% gainer. In a market like this, let’s take the money and run!
PLAY: Sell your MTB February 45 Puts (MTB NI) at or above $5.70, good for the day.
At the same time, I’d like to continue holding all of our upside call plays. As you know, the market is now trading lower in seven consecutive sessions, and I feel we’re getting close to an upside pop. Therefore, I want to be sure that we’re all positioned to properly participate in any upside reversal. Therefore, maintain all call positions.
At the same time, I continue to like the strength being displayed by Apollo (APOL – NASDAQ).We might get a second opportunity to add calls and play the continued upside run. Stay tuned.
And as always…
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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