[Selling Calls on Biotech Hldrs (BBH) to Create Spread/Selling Mar 200 Calls (GBZCT)/Limit $1.85/Day Order]
Dear Member:
I own the Jan '07 200 calls on BBH and the ETF has turned down this morning. I am now placing an order to create a calendar spread by selling the Mar 200 calls (GBZCT) at a limit of $1.85. If filled, this move will bring in income and further reduce my risk in the underlying LEAPS position.
DISCLOSURE: At the time of publication, I am long the Jan '07 200 calls on BBH.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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