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November 21, 2009
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Microsoft (MSFT) Profits
March 31, 2009ACTION:
Sell 50% of the MSFT Oct 22 Calls (MSQJN) for $1.17 or more
Dear Fellow Options Traders,
On March 17, we recommended you buy the Microsoft (MSFT) Oct 22 Calls (MSQJN) for 60 cents or less.
We can sell these calls today for about a 90% gain. MSFT received several positive research comments this morning and may be benefiting from institutional portfolio positioning at the end of the quarter.
With market volatility still elevated and the MSFT stock run we have already captured with our options position, we believe it is prudent to take some money off the table, but to keep some contracts in play for further upside movement.
Therefore, close half of the MSFT Oct 22 Calls (MSQJN) for $1.17 or more.
Have a good day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
