[Placing contingent stop order on Kb Home (KBH) Puts/Sell KBH Jan 75 Puts (KBHMO) contingent on stock above $71.99 ]
Dear Member,
KBH has dropped like a stone since I entered my Jan 75 Puts (KBHMO) this morning. Of course, my Puts have gained substantial value. I want to protect profit in the position so I am placing an order to sell the Puts contingent on the stock going above $71.76. If the stock hits $71.77 I will automatically be sold out of the position.
DISCLOSURE: At the time of publication, I own the Jan 75 Puts on KBH.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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