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November 21, 2009
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Shaw Group (SGR) Profits
January 08, 2009Dear Fellow Options Traders,
On Nov. 26, we recommended buying the Shaw Group (SGR) April 15-25 bull-call spread for $3.60 or better in reaction to strong option signals, in advance of the Obama infrastructure spending plans and on attractive valuation.
Today, SGR reported better-than-expected earnings and is now trading above $25 per share. Additionally, Obama has outlined his initial thoughts for as much as $1 trillion of infrastructure spending.
The bull-call spread position responded as we had expected and it is now time to harvest the profits. Thus, we recommend closing the SGR April 15-25 (SGRDC/SGRDE) bull-call spread for $6.60 or better.
Have a great day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
