Well… that was easy.
On Tuesday, I issued a buy on ABBV after it was destroyed on overreaction. We picked up the underlying stock around $52.50. And we picked up the ABBV January 52.50 calls around $3.20, as well.
Today, the stock gapped up to an intra-day high of $60.73. And I’m recommending that you close the stock for gains.
As for the calls, they last traded at $8.50 on the day. Sell to close.
Congratulations on the quick gain. Stay tuned for more.
Have a great weekend.
Ian L. Cooper
Forgotten Profits