[Selling LEAPS Calls against existing Long BBH Calls/Selling to Open Jan '07 220 Calls (VEAAD)/Day Order/Limit $10.10]
Dear Member:
As you know, I already own the Jan '07 200 calls on BBH. I am now placing an order to sell to open the Jan '07 220 calls (VEAAD) for a limit of $10.10. If filled, this order will bring some income into my account and will reduce the risk in my long position by 10.10 a share less the commission. Selling these LEAPS calls will create a bullish call spread and the position is covered since I am long Jan '07 200 calls.
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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