[Buying LEAPS on Electronic Data Systems (EDS)/Buying Jan '06 20 Calls (WEDAD)/Limit $4.40]
Dear Member,
Yesterday Electronic Data Systems (EDS) closed above resistance and has stayed above that resistance today. I am placing an order to buy the Jan '06 20 calls (WEDAD) at a $4.40 limit for the day. My initial exit if it turns against me is contingent on the stock going below $21.07. The delta on these options is about .69.
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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