[Buying LEAPS on EBAY/Buying Jan '07 80 calls (OYIAP)/Limit $24.40]
Dear Member,
EBAY fell more than $19 at one time yesterday on news that it missed earnings by a PENNY! Preposterous since it also announced a 2:1 split. I am placing an order to buy the Jan '07 80 LEAPS for $24.40 a share. When the split occurs, my number of contracts will double and the strike will halve to 40. I am placing a limit order of 24.40.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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