Sponsored By:
| Dow | 10,318.16 | -14.28 |
| NASDAQ | 2,146.04 | -10.78 |
| S&P | 1,091.38 | -3.52 |
- Events & Appearances
- Special Reports
- Getting Started
- FAQ
- Modify Your Account
- Glossary
- Renew Subscription
- About the Adviser
November 21, 2009
- Subscriptions:
Close Darden Restaurants (DRI)
January 22, 2009Dear Fellow Options Traders,
On Jan. 20, we recommended you buy the Darden Restaurants (DRI) Feb 22.50 Puts (DRINX) for $1.50 or better.
Last night, the company reiterated its guidance for the year. With some of the earnings uncertainty removed, the stock has moved up today to about $26 per share.
Given the price gap between where the stock is currently trading and how far it would be required to fall for us to be in-the-money by February expiration on Feb. 21, we believe it is time to exercise a stop loss and close this position.
Sell to close the DRI Feb 22.50 Puts (DRINX) for 90 cents or more.
Have a great day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
