[Closing Spread on Micron (MU)/Simultaneously Buying to Close Jan '07 15 Calls (VGYAC) and Selling to Close Jan '07 10 Calls (VGYAB)/Day Order/Limit $3.40]
Dear Member:
I am placing an order to close my spread on Micron (MU) by simultaneously buying to close the Jan '07 15 calls (VGYAC) and selling to close the Jan '07 10 calls (VGYAB) for a limit of $3.40 (net credit).
If filled, this will close my original LEAPS buy in February of 2005 for a final net return on investment of 45.7% before commissions!!! That's for a year including a number of adjustments.
DISCLOSURE: At the time of publication, I have the Jan 07 10/15 bull call spread on MU.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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