[Buying LEAPS Calls on Reynolds American (RAI)/Buying to Open Jan '07 90 Calls (OWOAR)/Day Order/Limit $8.70]
Dear Member,
Yesterday Reynolds American (RAI) broke through a resistance at 90.. There is an old adage that a stock that hits 90 will go to 100 (the adage doesn't say when). I am placing an order to buy the in the money Jan '07 90 calls (OWOAR) at a limit of $8.70.
DISCLOSURE: At the time of publication I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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