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November 21, 2009
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Citrix Systems (CTXS) Profits
April 16, 2009ACTION:
'Sell to Close' the CTXS June 30 Calls (XSQFF) for 85 cents or more
Dear Fellow Options Traders,
On March 19, we recommended you buy the Citrix Systms (CTXS) June 30 Calls (XSQFF) for 65 cents or less based on a really unusual spike in the volume of calls being bought by institutions around that time. There was also speculation the company would be acquired.
Yesterday, institutional investors made opening purchases of about 10,000 CTXS May and June 25 Put contracts. We feel this is an important signal and should not be ignored. Given this new, powerful option signal, it is time to secure our almost 30% profit.
'Sell to close' the CTXS June 30 Calls (XSQFF) for 85 cents or more.
Also on March 19, we recommended you sell to open the CTXS June 20 Puts (XSQRD) for $1 or more. Although we currently have a 50% gain in this position, we believe the risk of CTXS dropping below the $20 strike before June expiration is low, and we advise that stay short these puts as there may be more profit ahead.
Have a great day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
