[Buying LEAPS on Sanmina (SANM)/Buying Jan '06 12.50 calls (YNSAT)/Day order/Limit $0.45]
Dear Member,
Sanmina (SANM) has been consolidating and has had a little bounce off support. I am entering a very speculative position buying the Jan '06 $12.50 LEAPS calls (YNSAT) for 45 cents. The stock is now about $6.94 and the delta on these LEAPS is currently only about 23. Of course, the delta will increase if the stock price increases. Risk is limited to my initial 45 cent investment if I am filled. Initial exit if it goes against me is $6.28.
DISCLOSURE: At the time of publication, I have no position in the referenced options or in the underlying stock.
Sincerely,
Bill Kraft
CutLoss, Inc.
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