Hello Instant Money Traders.

We sent out a new recommendation late on Friday at approximately 2:55 pm ET to sell a half position of the October 2009 UNG $11 put options (UNY VK) for a limit sell price of $.75 or better, GTC, as an opening transaction.

If you had received your alert and acted upon it before the market closed on Friday, you would have been able to receive a fill as multiple contracts traded at $.75. We will consider this half position filled and confirmed. If you did not act upon the alert on Friday, then keep your orders working in the market to sell a half position at $.75/option contract.

I had talked about getting back into a new put-sell trade in the natural gas sector right after we had successfully closed out the July UNG put-sell position. This puts us in an even more favorable position as we rolled down the strike price, putting us at a potential cost-basis level of $10.25/share ($11.00 strike price – $.75 option premium = $10.25 cost-basis) if assigned by October option expiration.

That’s all for now. Keep sending those comments/questions/remarks/kudos to editor@mtvernonresearch.com as we love to hear your thoughts.

Regards,

Lee Lowell

---

Current positions:

UNG Oct $11 put
Opened on 6/19/2009 – sold put for $0.75 per option
Current price: $0.75
Current Stock Price: $15.02
Status: Ok to sell half position at $0.75 or better

COF Sept $15 put
Opened on 6/11/2009 – sold put for $0.60 per option
Current price: $0.75
Current Stock Price: $21.81
Status: Do not sell another half position at this time