Take RIG Profits!
Plus Add to PNRA
PLAY: Sell your RIG April 85 Calls (O:RIG 10D85.00) at market, good for the day.
PLAY: Buy more PNRA April 75 Calls (O:PNRA 10D75.00) at or under $2.85 (or best price), good for the day. Lower your protective stop limit to $1.70 and maintain your sniper sell at $5.50.
Dear Bottarelli Research Member,
As we expected, today’s drilling news has given a nice and steady upward bias to deepwater drillers like Transocean (RIG – NYSE). As a result, the RIG April 85 Calls (O:RIG 10D85.00) that we entered this morning for $1.99 have just hit a high of $2.47, good for a quick and easy 24% gainer. Go ahead and sweep your profits off the table now!
PLAY: Sell your RIG April 85 Calls (O:RIG 10D85.00) at market, good for the day.
Next up is Panera Bread (PNRA – NASDAQ).Ever since entering our PNRA position, the stock has been stuck in a super-tight trading range. This means one of two things. Either the bulls have become exhausted, and the stock is due for a breather, or PNRA is setting up a support level for its next upward push. Considering the upward trend of the market, I think it’s wise to side with the second scenario and call the recent trading action a “calm period” before the next upward move. Therefore, let’s use this situation to our advantage by lowering our cost basis and adding to our PNRA calls now.
PLAY: Buy more PNRA April 75 Calls (O:PNRA 10D75.00) at or under $2.85 (or best price), good for the day. Lower your protective stop limit to $1.70 and maintain your sniper sell at $5.50.
And as always…
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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