[Buying to Close May 10 Calls on Micron (MU)/Buying to Close May 10 Calls (MUEB)/Limit $0.65/Day Order]
Dear Member,
Micron (MU) has gapped up and broken out today on very high volume. I own the Jan '07 10 LEAPS calls and sold the May 10 calls (MUEB)as a covered position against them. The stock is now above 10 and I don't want to be called out of the LEAPS so I am placing an order to buy to close the May 10 calls (MUEB) for $0.65 or better for the day.
DISCLOSURE: At the time of publication, I am long the Jan '07 10 calls and short the May 10 calls on MU.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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