[Contingent Order on Imclone (IMCL) Nov 45 Puts (QCIWI)/Contingent on IMCL stock grater than $44.86 sell Nov 45 Puts (QCIWI)/Good 'til cancelled]
Dear Member,
Having closed the short leg of this spread, I am now trying to retain and increase the profit on the long Nov 45 Put (QCIWI) position I still own. I will do that with stop loss orders as the stock drops or until it breaks back up and the stop takes me out. I am now placing a stop contingent on the stock exceeding $44.86. If the stock continues to move down, I will move my stop down with it thus not only protecting the profit in this leg, but also gaining additional profit if it continues in the same direction.
DISCLOSURE: At the time of publication, I am long the Nov 45 puts on IMCL.
Sincerely,
Bill Kraft
CutLoss, Inc.
|
