[Lowering stop on Mbna Corp (KRB) Puts/Stop to sell June 27.50 Puts (KRBRY) now moved to sell contingent on the stock going above $27.26]
Dear Member,
This morning Mbna Corp (KRB) gapped down slightly at the open which, of course, is a positive for my puts. I have moved my stop to sell the June 27.50 puts down so that the sell stop is now contingent on the stock going above $27.26.
I am making this move in an attempt to reduce risk in the position in the event the stock happens to turn against my bearish position.
DISCLOSURE: At the time of publication, I am long the June 27.50 puts on KRB.
Sincerely,
Bill Kraft
CutLoss, Inc.
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