[Buying to Close Short Calls on SPY/Buy to Close Dec '07 140 Calls (FYNLH)/Day Order/Limit $6.10]
Dear Member:
With this morning's bounce in the SP-500, I am placing an order to close the Dec '07 140 calls I sold in February for $7.40. I am buying to close the Dec '07 140 calls (FYNLH) at a limit of $6.10 for the day. If filled, I will have realized a gain of $1.30 a share on this leg.
DISCLOSURE: At the time of publication, I am long the Dec '07 120 calls and short the Dec '07 140 calls on SPY.
Sincerely,
Bill Kraft
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