[Placing a contingent stop to sell Jun 17 calls on Advanced Micro Devices (AMD)/Contingent upon AMD stock less than $17.04 sell Jun 17 calls (AMDFY)]
Dear Member,
I am placing an order to sell the Jun 17 calls (AMDFY) on AMD contingent upon the stock going below $17.04. I just placed an order to buy back the Jun 15 puts for 5 cents. If the contingent order I am placing is filled, that means the stock will be retracing and the Jun 14 puts I still own should then be increasing in value. Some complicated moves, perhaps, but designed to reduce risk and attempt to attain a nice profit. One of the problems, of course, with these adjustments is that they cost commissions. I pay $12.95 per 10 contracts.
DISCLOSURE: At the time of publication, I am long the Jun 17 calls and the Jun 14 puts on AMD.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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