[Buying LEAPS Calls on Telefonos de Mexico (TMX)/Buying Jan '08 20 Calls (WTEAD)/Day Order/Limit $4.10]
Dear Member:
I am placing an order to buy the Jan '08 20 Calls (WTEAD) on Telefonos de Mexico at $4.10 or better for the day. The stock appears to have turned back up after having retraced since early January. The '08 $20 calls have a delta of approximately .70 which means that for every dollar the stock moves (either up or down) the stock moves about 70 cents.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
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