Sell Alert: December 5, 2012

| December 5, 2012

Sell Alert:  December 5, 2012

 

Trade Details

Sell McMoRan (MMR) January 2013 $9 Calls for $6.30 or better

 

Why?

Now that’s what I call a homerun!

We’ve had MMR just about a week and it’s currently a 585% winner.  That’s about as incredible a one-week gain as I’ve seen. 

I thought MMR had the potential to skyrocket based on hitting gold (or gas in this case) with its Davy Jones well.  However, apparently Freeport-McMoRan (FCX) also feels the same way – which is why the company is spending $2.1 billion to purchase MMR.  As you can see, the deal caused the shares to skyrocket to the approximate buyout price of over $15 per share.

Let’s go ahead and cash in our options for sizeable gains.  Congrats on a huge winner!

 

Recent Activity

McMoRan Exploration 

 

Category: OTW Sell Alerts

About the Author ()

Marcus Haber is the co-editor of Options Trading Research and boasts well over a decade of real-life options experience. Learning from some of the biggest names in the business, Marcus has served as an Options Strategist for a number of firms and was also appointed to the Options Advsiory Board with Pershing, a branch of the Bank of New York.
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