[Creating Calendar Bullish Call Spread on SPY/Selling to Open Jan '06 129 Calls (SPYAY)/Day Order/Limit $0.40]
Dear Member,
SPY has lost some ground today and has been unable to climb above resistance. I am placing an order to sell the Jan 129 calls for a limit of 40 cents. If filled, this will reduce the risk in my Dec '06 120 calls, bring in soem income and place me in a 9 point bullish diagonalized calendar spread.
DISCLOSURE: At the time of publication, I am long the Dec '06 120 calls on SPY.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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