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November 21, 2009
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Research In Motion (RIMM) Profits
April 03, 2009ACTION:
"Buy to close" the RIMM June 25 Puts (RUPRE) for 10 cents or less
Dear Fellow Options Traders,
Research In Motion (RIMM) surprised investors to the upside with its earnings report today. The stock is up more than 20% and much of the volatility has come out of the options.
We put our short trade in the RIMM June 25 Puts (RUPRE) on in February, and w expected the trade to play out during five months. Instead, we have captured 90% of the gain in just two months.
Rather than continuing to tie up margin capital with this trade for the next three months, let's take our 90% gain and move on to the next opportunity. "Buy to close" the RIMM June 25 Puts (RUPRE) for 10 cents or less.
Have a great day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
