[Buying LEAPS on H.J. Heinz (HNZ)/Buying Jan '06 35 calls (WHNAG)/Limit $3.50 for the day]
Dear Member,
I am placing an order to buy the Jan '06 35 calls (WHNAG)$3.30 x $3.60 on Heinz (HNZ) which is currently trading at $36.90 and broke through a little price resistance today. It also crossed above the 40 day moving average 4 days ago. Earnings are scheduled to be announced on Nov 23d and I am looking for a little run up into earnings. My initial exit will be $36 if the stock turns against me.
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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