[Buying LEAPS on Intel (INTC)/Buying Jan '06 25 LEAPS calls (WNLAE)/Limit $1.50 for the day]
Dear Member,
Intel has bounced off a double bottom and just went above the 18 day moving average. I am placing an order to buy the Jan '06 $25 LEAPS calls for $1.50. If the stock turns against me, my initial exit would be on a close below $19.55. The stock is currently at $20.68 and the LEAPS I am trying to buy have a delta of about 37.
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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