[Placing Contingent Stop on Tenet Healthcare (THC) LEAPS Calls/Contingent on THC going below $7.97 Sell Jan "07 $5 Calls (ONZAA)]
Dear Member:
THC has made a nice little run and I am in a profitable position on my Jan '07 5 calls (ONZAA). I am, therefore, placing an order to sell those calls contingent on the stock dropping below $7.97. This order should help avoid a loss and protect some profit in the position unless there is a sharp gap down in which event I would want to be out anyway.
DISCLOSURE: At the time of publication, I own the Jan '07 5 calls on THC.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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