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November 21, 2009
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BP Plc. (BP) Profits
January 08, 2009Dear Fellow Options Traders,
On Oct. 14, you opened a BP Jan 45-50 (BPAI/BPAJ) bull-call spread for $1.90. Today, we recommend that you close the position for $2.50 or better.
With options expiration next Friday, the bounce in oil prices and the fall in BP options premium, we believe it is prudent to put the profit in your pocket today rather than risk profit loss from further oil price and overall market volatility.
Have a great day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
