[Buying Aug 35 Calls to Close on Yahoo (YHOO)/Buying to Close the Aug 35 Calls (YHQHG)/Day Order/Limit $0.10]
Dear Member,
Less than a month ago, I sold the Aug 35 calls (YHQHG) as a covered position against my Jan '07 35 calls. I received 40 cents a share on that sale and that brought in some income and reduced my risk in the overall position. I am now placing an order to buy to close the Aug 35 calls ("buying them back") at 10 cents a share. If filled, that will represent a 30 cent profit per share before commissions and will yield a return of about 5.2% on the original cost of the LEAPS in only 27 days.
I will keep my long position in the Jan '07 35 LEAPS.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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