Market Off to Strong Start

International Business Machines (IBM, $91.65, up $2.16). The stock opened at $89.77 and quickly headed above $90. The February 95 calls (IBMBS, $1.60, up $0.45) opened at $1.00 and most of you are probably in this position at $1.00-$1.25. The calls have already traded as high as $1.95 when the stock hit $92.67 but remember resistance is strong at $93. Hopefully, we can break this level because if we do, the calls are headed for much bigger gains. If you got in the trade this morning, protect your profits if it appears IBM is going to give back these gains. Rick Rouse Rick@OptionsMentoring.com]]>

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