[Selling to Close Puts on Morgan Stanley (MS)/Selling to Close Jul 60 Puts (MSSL)/Day Order/Limit $2.90]
Dear Member:
Morgan Stanley (MS) looks as though it is holding at a support so I am placing an order to close my Jul 60 Puts (MSSL) by selling at a limit of $2.90 for the day. This is the put leg of an original straddle on which I earlier sold the calls at a profit. Overall, by closing this leg around $2.90, the overall play turned out to be a wash.
DISCLOSURE: At the time of publication, I own the Jul 60 puts on MS.
Sincerely,
Bill Kraft
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