Take TBT Profits!

Lock in 29% Gainer

By Bryan Bottarelli
Wednesday, March 11, 2009 9:43 AM EDT
Wed, 11 Mar 2009 13:43:00 GMT

PLAY: Sell your TBT April 46 Calls (TBT DT) at or above $3.60, good for the day.

PLAY: Sell your QID March 69 Puts (DYM OQ). Hold your QID March 69 Calls (DYM CQ).


Dear Bottarelli Research Member,

As yesterday’s powerful rally continues, I expected to see more upside at the open of today’s trading. But as the major market averages begin the trading day, we’re seeing a rather sheepish upside move. As a result, I’d like to make a move on our TBT play and our QID Straddle play.

Starting with our TBT April 46 Calls (TBT DT), let’s go ahead and lock in our profits. As you know, we entered these calls on 3/9/2009 for $2.85, and they’ve traded as high as $3.72 in today’s action. Let’s lock in our gains now!

PLAY: Sell your TBT April 46 Calls (TBT DT) at or above $3.60, good for the day.

At the same time, let’s also close off the put side of our QID March 69 Straddle. Yesterday’s huge upside rally pushed your QID March 69 Puts (DYM OQ) up to $8.60. Let’s lock in this price now, and then hold the March 69 Calls (DYM CQ) for any forthcoming selling pressure.

PLAY: Sell your QID March 69 Puts (DYM OQ) at market, good for the day. Hold your QID March 69 Calls (DYM CQ).

And lastly, let’s also maintain our Visa April 50 Puts (V PJ) for additional selling pressure. As always, I’ll follow up as the trading day progresses. But until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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