[Closing LEAPS position on Taiwan Semiconductor/Sell to close Jan '06 5 call (WMGAA)/Limit $2.65]
Dear Member,
The Nasdaq broke an intraday support, earnings will be announced early next week for Taiwan Semiconductor, and I don't like what I am seeing in the market to continue a bullish play. I am selling to close the Jan '06 $5 calls (WMGAA) for $2.65. That will represent a 6% gain in 4 days.
DISCLOSURE: At the time of publication, I am long the Jan '06 $5 calls on TSM.
Sincerely,
Bill Kraft
CutLoss, Inc.
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