[Buying to close Nov 50 Puts (QCIWJ) on Imclone (IMCL)/Limit $7.30]
Dear Member,
Imclone (IMCL) has taken a substantial dive since it announced earnings yesterday. I am now adjusting the spread by closing the short leg of my bull put spread. I am buying to close the Nov 50 puts for $7.30 (QCIWJ). The stock is still going down so I will retain the Nov 45 puts I am long.
DISCLOSURE: At the time of publication, I am short the Nov 50 Puts on IMCL and long the Nov 45 Puts on IMCL.
Sincerely,
Bill Kraft
CutLoss, Inc.
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