Top Gun Closes Out Its S&P 500 Trade for a 35.6% Gain in 8 Weeks

Our S&P 500 calls (Jan07 $137) expired last Friday.  I closed them out in the last hour of trading on Friday for $5.90 – (I forgot to give the instructions to do so here on the blog for which I apologize).

We bought in on Friday November 24, 2006 at $5.20 and we doubled down the next Monday November 27, 2006 when the market was down big at $3.50. 

That gives us an average entry price of $4.35.  Selling on Friday at $5.90 gave us a 35.6% gain in 8 weeks.

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