Sell Alert: April 15, 2013

Marcus Haber | April 15, 2013

Sell Alert: April 15, 2013

Trade Details

Sell OpenTable (OPEN) May $57.50 Puts for $4.00 or better

Why?

Looks like having a put in the portfolio was the right decision. OPEN has essentially gone straight down since we bought puts on it, for both technical and fundamental reasons. With today’s negative news out of China, investors seem to have enough of this volatile stock.

We’ve not only hit the 50-day moving average, but we’re also looking at 140% gains as of now. Let’s lock them in!