11:00am (EST) 

Amgen (AMGN, $84.44, up $0.01) has been pushing 52-week highs recently and we used the momentum to play a call option on the stock a week ago.  We closed half of the trade 2 days later to lock-in profits on the run past $84 and our Hard Stop on the other half of the trade was hit at the open this morning.       

We are a little disappointed to be out of the trade but we made a quick 35% in 8 days in a choppy, tight trading market.  We will keep Amgen on our Watch List to play a continuation to possible blue-sky territory or a pullback to prior support.

Subscribers, check the Members Area for the update and we will be back shortly with our midday briefing.