[Placing Contingent Sell Stop on Home Depot (HD) LEAPS Calls/Contingent on HD Stock going below $39.39 sell to close Jan '07 40 Calls (VHDAH)/GTC]
Dear Member,
My order to buy the Jan '07 40 calls (VHDAH) on Home Depot (HD) was filled at $5.60. I am now placing an order to sell those Jan '07 40 calls (VHDAH) contingent on the price of the stock going below $39.39. I am placing this order in case the stock turns down so that my losses will be cut. In other words, my options will be sold automatically if the stock price goes below $39.39. If the stock moves up, I will be moving my contingent stop up behind it.
DISCLOSURE: At the time of publication, I own the Jan '07 40 calls on HD.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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