[Creating Bullish Call Spread on BBH/Selling to Open Jan '07 220 Calls (VEAAD)/Day Order/Limit $12.50]
Dear Member,
I already own the Jan '07 200 Calls on BBH. It has dropped below a shorter term suppoort, but overall, I am still bullish. I am now placing an order to create a spread and to reduce my risk by $12.50 a share. I am placing an order to sell the Jan '07 220 calls for $12.50. If filled, my risk will be reduced by that amount and I will have a 20 spread at a net cost of $17. I would expect to readjust the short leg with movement in the market.
DISCLOSURE: At the time of publication, I own the Jan '07 200 calls on BBH.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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