[Buying LEAPS on Lam Research (LRCX)/Buying Jan '06 $25 LEAPS calls (WMJAE)/Day Order Limit $3.90]
Dear Member,
I am buying the Jan '06 LEAPS calls (WMJAE) on Lam Research (LRCX). LRCX has just formed a double bottom and there is a positive divergence in moneystream. These are out of the money calls with a delta of approximately .51. My initial stop will be set to sell to close if the stock reverses and goes below $19.57.
DISCLOSURE: At the time of publication, I have no position in the referenced options or in the underlying stock.
Sincerely,
Bill Kraft
CutLoss
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