[Rolling SPY Dec '06 120 Calls (SPYLP) to Dec "07 120 Calls/Limit Debit $5.30/Day Order]
Dear Member:
As we enter the Mar expiration, the time value will run out faster and faster as we approach Dec expiration in '06. Therefore, I am rolling my position in the Dec '06 120 (SPYLP) calls to the Dec '07 120 LEAPS calls (FYNLD)on SPY for a net debit before commissions of $5.30.
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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