[Buying LEAPS on Providian Financial (PVN)/Buying Jan '06 $20 calls (WVRAD)/Day order limit $0.60]
Dear Member,
Providian has broken above both daily and weekly resistance. ADX signalling trend in place. I am entering a speculative play by buying the out of the money Jan '06 $20 LEAPS for $0.60. I will exit on a close below the old resistance which was just broken.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
CutLoss, Inc.
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