Take PRU Profits!

Lock in 25% Gainer

By Bryan Bottarelli
Tuesday, September 01, 2009 11:01 AM EDT
Tue, 1 Sep 2009 15:01:00 GMT

PLAY: Sell your PRU September 50 Puts (PWQ UJ) at market, good for the day.

Dear Bottarelli Research Member,

As we expected, shares of Prudential Financial (PRU – NYSE) continue to drop lower. This has pushed our PRU September 50 Puts (PWQ UJ) from yesterday’s $2.20 entry price up to $2.75, good for a quick 25% gainer. Let’s go ahead and lock in these gains now!

PLAY: Sell your PRU September 50 Puts (PWQ UJ) at market, good for the day.

At the same time, let’s cut bait on our WYNN September 55 Puts (UWY UK). As you know, we entered these puts for $4.50 and they’re currently trading around $3.70. We have been following WYNN for a while, and it just can’t seem to get the downside momentum that we want. Therefore, let’s take a slight loss and move on to better trading opportunities. Sell!

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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