[Closing Short Leg on BBH/Buying to Close Mar 200 Calls/Day Order/Limit $0.65]
Dear Member:
The Biotech Spyders (BBH) made a strong move up on high volume yesterday. As you know, I own the Jan '07 200 calls and sold the Mar 200 calls (GBZCT) for $1.80. I am now placing an order to close the Mar 200 leg by buying the Mar 200 calls (GBZCT) for a limit of $0.65. If filled, this will result in a $1.15 profit before commission on that leg. I may roll out the Jan '07 200's to Jan '08 in the not too distant future.
DISCLOSURE: At the time of publication, I own the Jan '07 200 calls and am short the Mar 200 calls.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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