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March 11, 2010
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Lock-in Shaw Group (SGR) Profits
January 28, 2009Dear Fellow Options Traders,
On Jan. 12, we recommended you close half of your position in the SGR April 12.50 Puts (SGRPV). The price ran away and we did not recognize a successfully completed trade on that date.
SGR has advanced and, today, we can complete what we set out to do on Jan. 12: capture an 85% winner in this short position. Buy to close 50% of the SGR April 12.50 Puts (SGRPV) for 25 cents or less.
We recommend leaving the remaining half of your position on the table as we have now virtually locked in a susbstantial win, but believe we can earn a 100% gain on the remaining position. We like this risk/reward position.
Have a great day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
