[Correction to contingent stop on Lehman Bros (LEH) LEAPS/Contingent stop on Jan '07 85 calls (VHEAQ) was actually placed at $92.20 rather than $92.90]
Dear Member,
Yesterday, I sent out an alert indicating I was moving up my contingent stop to sell the Jan '07 85 calls (VHEAQ). I indicated I was making the stop contingent on the stock going below $92.90. I did move my stop up, but when I actually placed the order, I inadvertantly placed my stop contingent on the stock going below 92.20 instead of 92.90. Had the stop been placed at 92.90, I would have been stopped out for a profit today since the stock had a low of 92.60. However, I am still in the play and my stop is contingent on the stock going below 92.20.
My sincere thanks to an observant subscriber who wrote to see whether I had been stopped out today since LEH drifted below $92.90.
DISCLOSURE: At the time of publication, I won the Jan '07 85 calls on LEH.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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