Jazz Pharmaceuticals (JAZZ) jumped 2.56% yesterday.
Jazz, whose drugs include treatments for pain and narcolepsy, reports Q2 results after today’s close. Analysts forecast a 39% increase in earnings to $1.52 a share. Sales for the period are expected to jump 68% to $208.7 million.
With your September 2013 $70 call options (JAZZ130921C00070000) now up 57.54%, I recommend that you sell half of your options here to lock in solid gains ahead of tonight’s earnings announcements.
With the JAZZ stock up 34.82% since my initial recommendation, raise your stop to $75.50 to lock in at least a 30% gain in the stock.
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