Research In Motion (RIMM) Reports After the Bell

1:30pm (EST)

Finally.

It appear the bulls are serious this time on closing above resistance which could gives us one last big push into April.

The Dow is up 65 points to 12,150 while the S&P is higher by 8 points to 1,306. The Nasdaq is showing a 29 point pop and is at 2,727.

We wanted o take time today to introduce you to a NEW type of option trading that could bring you powerful profits. We are talking about profits of 338% in one-day. We have been watching this stock on our Watch List and previewed a strangle option trade that made a huge jump yesterday. However, we have been hesitant to introduce these weekly options because they truly can be hit or miss. Basically you are betting on a stock to move up or down in 5 days. The beauty is that these options don’t have a lot of delta which makes them cheaper.

The April 55 calls we were following surged 100% yesterday on our strangle trade but the WEEKLY April 55 calls zoomed 338% on this metal stock. To get our complete list of the 50 stocks that trade WEEKLY options, be sure to tune into tomorrow.

We do profile a WEEKLY strangle option trade for one stock that list these types of options but we will probably sit on the sidelines with Research In Motion (RIMM, $63.47, up $1.45). The company reports after the closing bell and we are sure shares will move 5%. We would like to see a 10%+ move, either way, because we aren’t sure what RIMM is going to report. Our gut says they are going to have a lousy quarter but they could surprise Wall Street with some decent numbers.

Today’s rally past resistance looks good so let’s hope it sticks. Subscribers check for the updates inside our Members Area.

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Research In Motion (RIMM) Reports After the Bell

CFTC Disclosure: