[Selling Calls against Yahoo (YHOO) LEAPS/Selling to Open Aug 35 Calls (YHQHG)/Day Order/Limit $0.40]
Dear Member,
After the tumble Yahoo (YHOO) has taken on pretty good earnings, I am placing an order to sell the Aug 35 calls (YHQHG) for $0.40. This is a covered position since I own the '07 35 LEAPS on YHOO. I am selling the calls to bring in some income and reduce risk in the underlying position.
I hope you have noticed that EBAY had a huge gap up on tremendous volume and the stock is up about 18% as I write this alert. CHINA is also enjoying a nice move up (currently about 8% for the stock) on very strong volume.
DISCLOSURE: At the time of publication, I own YHOO LEAPS calls, EBAY LEAPS calls and CHINA LEAPS calls.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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