Monthly Cash Machine Newsletter, Monday, 04/11/2005 01:50:09 PM ET
Trade Alert â€“ EL
HAVING TROUBLE PRINTING?
The mid-morning retreat in Estee Lauder (NYSE:EL) shares did not last long and with the "creative alliance" announcement coming tomorrow, we need to buy some insurance for any unexpected (bullish) activity.
The recommended position (for traders who are currently in the EL "bear-call" credit spread) is:
BUY (5) JUL-$45 EL-GI Calls
The current ask is $2.20, however you may be able to enter the position at a lower price with a "limit" order.
We will follow-up this post with a "screen shot" of the OptionsXpress order page.