Shares of Microsoft (MSFT, $34.80, up $2.31) are zooming this morning after news its CEO, Steve Ballmer, will retire. The announcement came before the opening bell and just after we released our Daily Morning update.
We went long Microsoft near-term call options earlier this month and today’s 8% pop in the stock has been a windfall for our options.
The call options are up 214% and we are locking-in half profits given today’s whopping gains. We can still play a continued upside breakout if shares stay strong but it will be with the house’s money.
Subscribers, check the Members Area for the update and we will be back shortly with our Midday report.