BOUGHT +1 UYG 100 NOV 08 3 CALL @.55

Ultra Financials

S&P 500 intraday

Just a cheap shot in the final 45 minutes of this option expiration Friday. S&P has shot up to 775 and retraced a little. The Advance-Decline line has turned up and the TICK is strong during this retracement. This looks like a strong setup to rally into the close. Let’s see if the market can do it. Otherwise, there goes $62.50 into the drain.

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