Add TBT Calls
Another Treasury Move
PLAY: Buy the TBT March 45 Calls (TBT CS) at or under $3.00, good for the day. Place a protective stop limit at $1.85 and a pre-determined sniper sell at $4.30.
Dear Bottarelli Research Member,
I mentioned this morning that it’s “wait and see” time on the major market averages. For the most part, this advice still stands, as the major market averages have traded in a tight range for the majority of today’s session. But as the next major directional move continues to formulate, I’d like to once again make a play on U.S. Treasuries using the powerful UltraShort 20+ Year Treasury ProShares (TBT – NTYSE) trading vehicle.
As you know, the TBT moves at a rate of twice the inverse of the Lehman Brothers 20+ Year U.S. Treasury index. As you can see from the chart below, the TBT looks to have set a support level at $45, which would indicate that an upside move is on the horizon. In other words, as Treasuries fall, the TBT moves up. Let’s play an upside push using March 45 calls. Here’s the play…
PLAY: Buy the TBT March 45 Calls (TBT CS) at or under $3.00, good for the day. Place a protective stop limit at $1.85 and a pre-determined sniper sell at $4.30.
And as always…
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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