[Adjusting Credit Spread on Open Text (OTEX)/Buying to close the Aug 25 Put (QFTTE)/Buy Limit $2.35]
Dear Member,
I am placing an order to buy to close the Aug 25 Puts (QFTTE) for a limit of $2.35 for the day. OTEX has broken one support, and I am attempting to close the short leg of the original credit spread. If this order is filled, I will then place a sell stop on the Aug 22.50 Puts I am long.
DISCLOSURE: At the time of publication, I am short the referenced Aug 25 Puts (QFTTE) as part of a spread in which I am also long the Aug 22.50 Puts.
Sincerely,
Bill Kraft
CutLoss, Inc.
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