Recently I bought a bullish spread position on NYX:NYSE Euronext
Bought NYXPR April 90 Put
Sold NYXPS April 95 Put

At the time of this writing (Monday April 2 night) NYX is @ $95

I expect 40% profit from this trade as long as NYX ends above $95 at this month expiration. Quite a bet with my 95 put being ATM, right!?

Here is why I'm so bullish on NYX. There are several technical and fundamental reasons:

The Euronext acquisition deal closing this week. NYX was suffering from arbitrage pressure with Euronext shareholders exchanging to NYX and selling it for quick and certain profits.Only less than 10% of shares are left, so the arbitrage is almost over
The execs promised cost savings around $250 Million in cost reductions as they consolidate technology and resources.NYX has already been converting companies from NASDAQ, and now being the first transatlantic exchange will make them even more compelling for international companies to enlist, to save listing costsTheir new real-time, bond pricing service will generate new revenueNYX is immune to bad economic data (soft/hard landing, politics, etc.), in fact they would make more money from increased volumes that come with volatilityEuronext has recently reported almost 30% increase in transactions last month, compared to the same period last year. I think derivatives markets are only expected to growListing of NYX in Paris '“ trading starts there on Wednesday, which should increase demand on the sharesbup to call ration is heavily bullish, so apparently many traders are bullish
If I'm right, a big short squeeze is eminent: 24% of float are sold short. Short sellers will probably need to cover soon, which can pull the stock up quicker a short amount of timeIt's due for analyst upgrades because all of these positive factors

So you may say why I bought a spread instead of plain calls with all that rosy description? well, it's just a rule I've set to myself these days in order to manage risk.