[Creating Spread on Biotech ETF (BBH)/Selling to Open Apr 190 Calls (GBZDR)/Day Order/Limit $1.25]
Dear Member:
BBH continues to act weakly so I am placing an order to create a diagonalized calendar spread to reduce risk and bring in some income. I am placing an order to sell the Apr 190 calls (GBZDR) at a limit of $1.25 for the day. I already own the Jan '07 200 calls so this will be a 200/190 bearish spread if filled. I'll need to watch the position very carefully since I definitely do not want to be called out at 190.
DISCLOSURE: At the time of publication, I own the Jan '07 200 calls on BBH.
Sincerely,
Bill Kraft
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