Categories: Bull Market Alert HotlinesStock Market News

Booking 52.5% Profits in Joy Global Options

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.

Exclusive 5 Reasons Bitcoin Will Defy Market Expectations

Nicholas Vardy

Nicholas Vardy has a unique background that has proven his knack for making money in different markets around the world. He was the Editor of The Global Guru, a free weekly e-newsletter, and also edited the trading services Momentum Trader Alert, which focused on making short-term profits in the hottest markets in the world, and The Alpha Algorithm, which was designed specifically to deliver big, fast triple-digit winners, month after month. He was also the editor of Smart Money Masters, a monthly service focused on longer term investments recommended by the brightest minds in the business. Mr. Vardy has been a regular commentator on CNN International and the Fox Business Network. He has also published articles in The New Republic, The World and I, and The Baker & McKenzie Legal Review. The Global Guru/Nicholas Vardy has been cited in The Wall Street Journal, Newsweek, Fox Business News, CBS MarketWatch, Yahoo! Finance, and MSN Money Central. Mr. Vardy graduated from Stanford with a B.A. — with honors and distinction — in both Economics and History, and he also earned an M.A in Modern European Intellectual History. After winning a Fulbright Scholarship, he earned a J.D. degree at Harvard Law School where he was an editor of the Harvard International Law Journal. When not uncovering investment opportunities for his subscribers and investors, Mr. Vardy is a keep-fit enthusiast and an avid student of classical music.