2:15pm (EST)

We always say plan your trades and trade your plan. 

Arena Pharmaceuticals (ARNA, $11.87, up $3.02) has opened for trading and we are seeing strong gains on our options.  We recommended the July 3 calls (ARNA120723C00003000, $9.00, up $3.00) at $1 back in late April and after locking-in profits along the way, we are ringing the register on a trade that is up 464%.

We said shares should open near $12 but they have traded up to $13.50 so our targets have been hit.

We also have a NEW TRADE we are adding as we see some dark storm clouds on the horizon.

Subscribers, check the Members Area for the updates and we will be back in the morning with the full story.