Sell Alert: February 5, 2013

Marcus Haber | February 5, 2013

Sell Alert: February 5, 2013

Trade Details

Sell Freeport-McMoRan (FCX) February $34 Calls for $1.77 or better

Why?

We’ve had the nice bounce back in FCX I was expecting. The strong earnings call meant that the share price wasn’t going to stay depressed for long. And, it helps that the overall market has been rallying as well.

The stock is sitting right around the 200-day moving average – which makes it a good time to sell. Let’s go ahead and lock in 26% gains. Now’s the time to sell our FCX calls.