The LEAPS Trader
105 W. Monument Street
Baltimore, MD 21201
Wednesday, June 27, 2007
Email – #382
** Take Profits on Freeport
Liquidate your Freeport McMoran (NYSE: FCX) spread by selling your January 2009 $60 call options (OMT-AL) and buying back the January 2009 $70 call options (OMT-AN). You should book gains of between 40% and 60% depending on your entry price. There is quite a wide spread in the options and there is no hurry to get out – so take your time and use limit orders or try to get filled between the bid and ask price.
Good trading,
Karim
