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47% One Day Gain On Smith International Options

Feb 22, 2010 Mergers & Acquisition, Trading Idea

On Friday, we issued a recommendation to subscribers of our Options Capitalist trading advisory service, that they buy the Smith International (SII) March 2010 37 calls, as there was a possibility a bid could be made for the company this week, by Schlumberger (SLB). We also actually posted that trade on the Navivest blog for our readers.

On Sunday, Schlumberger did announce a $45.84 per share bid for the company and the March 37 calls, which we purchased at $2.10, are now bidding $3.10, a nice 47% gain in just one trading day!

We offer compelling options trading ideas such as these twice a week via The Options Capitalist. For more info on the service, visit our site at http://www.navivest.com

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This entry was posted on Monday, February 22nd, 2010 at 10:28 am and is filed under Mergers & Acquisition, Trading Idea. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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