Close WHR
$85.00 Breakout Equals Bailout
Dear Bottarelli Research Member,
As I mentioned this morning, the markets are moving higher without any concern for the numerous landmines that are set throughout the world. Therefore, from a trading perspective, we’re left no choice but to adapt to this trading pattern an make the most out of it.
In that spirit, continue holding your GMCR March 85 Calls (O:GMCR 10C85.00) and SHLD March 95 Calls (O:SHLD 10C95.00). But when it comes to our pure put plays, we’re left no choice but to close off our WHR March 80 Puts (O:WHR 10O80.00). My hope was that WHR could fail at the $85.00 level, which has occurred four previous times. But given today’s breakout, I don’t think $85.00 is the resistance level that it has been in the past. Time to cut this one loose. Sell.
Also, continue holding your two pre-market earnings plays for Wednesday, which include the basket of CSIQ March 20 Calls (O:CSIQ 10C20.00) and CSIQ March 19 Puts (O:CSIQ 10O19.00) and the basket of JOYG March 50 Calls (JOYG 10C50.00) and JOYG March 49 Puts (JOYG 10O49.00).
As always, I’ll keep you updated on any new trading opportunities. Until then…
Lock and load!
Sincerely,
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