Take V Profits

Lock in 19% Gainer

By Bryan Bottarelli
Thursday, July 30, 2009 9:53 AM EDT
Thu, 30 Jul 2009 13:53:00 GMT

PLAY: Sell your V August 65 Calls (VEH HM) at market, good for the day.

Dear Bottarelli Research Member,

Let’s continue locking in profits by using the $2.50 price pop in Visa to jump out of our V August 65 Calls (VEH HM).As you know, we entered these calls for $4.20, and they’ve now hit a high of $5.00. While it’s not a massive winner, I’d still like to capitalize on the earnings-based jump to lock in the gains.

PLAY: Sell your V August 65 Calls (VEH HM) at market, good for the day.

Also be aware that Diamond Offshore Drilling (DO – NYSE) declared a special cash dividend of $1.875 per share. As a result, this lowers our $90 strike price down to $88.125. Nothing changes with our current call position, aside from the strike price and symbol. So, instead of owning the DO August 90 Puts, you now own the DO August 88.125 puts. The new symbol is DO TE. Please be aware of this in your ledger.

And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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