1:15pm (EST)

General Electric (GE, $14.50, up $0.54) has turned around and the May 15 calls (GEWEH, $0.20, up $0.09) are up 75% from where I mentioned them a couple of hours ago. You could set stops at 17 cents. A 25 contract trade would net you $200 right now if you close out. Even if you take the $20 out for fees, you still made $180 in 120 minutes.

The other trade I told you to open, Blackstone Group (BX, $13.90, up $01.41), is looking strong as new rope. The June 15 calls (BXFC, $0.90, up $0.40) have jumped from 60 cents to current levels which is a sweet 50% gain.

Close the GE trade today, no matter what. For Blackstone, if you are a day trader then you could call it a day and enjoy your gains. I still like it for the longer-term but the weekend may take a little juice out of the premium come Monday.

Rick Rouse