[Buying to Close Short LEAPS Leg on EBAY/Buy to Close Jan '07 50 Call (OYIAJ)/Day Order/Limit $2.60]
Dear Member,
As you may recall, I own the Jan '07 40 calls on EBAY and sold the Jan '07 50 calls to bring in some income and reduce risk overall. EBAY appears to have turned back up and I am now placing an order to buy to close the short 50 call position (OYIAJ) for a limit of $2.60. I initially sold them for $5 so if I am filled, this would represent a profit of $2.40 per share on that leg before commissions. The order is buy to close the Jan '07 50 calls (OYIAJ)for a limit of $2.60. Day order.
DISCLOSURE: At the time of publication, I own the Jan '07 40 calls and am short the Jan '07 50 calls on EBAY.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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