Lock in GMCR Profits
Take Modest Gainer
PLAY: Sell your GMCR October 70 Calls (QGM JN) at market, good for the
Dear Bottarelli Research Member,
Amazingly, the Dow has not opened the session by blasting right through the 10,000 level (as everyone expected). As a result, we are seeing some slight selling pressure that I hinted at this morning. For example, most of the financial stocks started the day by setting a new high, and then drifted off this high over the next 30 minutes. If this slow drift continues, we’ll be glad we held onto our PRU November 50 Puts (PWQ JW).
But in the meantime, let’s go ahead and lock in profits on our GMCR October 70 Calls (QGM JN). As I mentioned this morning, we entered these calls on October 12th for $2.60, and they hit a high of $3.60 in early trading. Since then, they’ve come off this high, which is a signal for us to preserve our gains. If this were a November position, I’d hold for more gains. But since these are October contracts, the time to lock in profits is now!
PLAY: Sell your GMCR October 70 Calls (QGM JN) at market, good for the day.
And as always…
Lock and load!
Sincerely,
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