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Brinks Co. (BCO) Options expire in Mar; I would take profit on the Mar $45 calls or write a spread to capture your cost at $1.75. This way, you are buying the calls for free with a decent spread, locking in your profits. The high price is $51.06 by Friday, after that, price could fall to the red signal line. Total profit today is $1440 above the cost of the chicken straddle. Brinks (BCO) total cost was $1980. Close long call Mar 45 strike for $4.75 or higher Keep the put options, waiting for the gap to be filled after Jan. Volume is dropping off, could write Mar 50 calls for $2.00 or more, or close position on Mar 45 calls At $4.75 or higher =$2800 Open interest shows resistance at Mar 50 Strike price for both puts and calls. Net profit so far: $1020
Currently, this stock is setting up for a volatile March expiration close. The Beta of the Stock is at 1.22 and may show signs of weakness toward the end of the week. If this happens, the put options may have a chance to move in the money.
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