The S&P 500 broke through a key resistance level of 1,340 yesterday, closing at 1,347. This bodes well for further upside in the U.S. market in the weeks ahead.
Your holding in Joy Global (JOYG) also jumped 2.42% yesterday.
As you may know, the general rule of thumb in Bull Market Alert is to book your first round of option profits by selling half of your options when they hit 50% gains or so. With your July $100 call options now up 52.5%, sell half of your options here to lock in your gains. That’s not a bad gain for an option position that we entered on April 11.
In addition, your June $30 calls in Nabors Industries Ltd. (NBR) are up 92.3%. Since you’ve already sold half of your options to lock in 71.51% gains, I’m still looking for triple-digit percentage gains before I recommend that you close out this position.
So, keep your eye out for an upcoming Special Alert in the coming days.