[Closing Short Leg of "Diamonds" (DIA) Spread/Buying to Close Jun 113 Calls (DIAFI)/Day Order/Limit $0.25]
Dear Member:
The Dow Industrials have fallen relatively sharply and given me the opportunity to try to close one leg of my spread on the Diamonds (DIA), assure a profit in the overall spread and let me keep the Jun 114 calls at no cost. I am placing a day order to buy to close the Jun 113 calls (DIAFI)at a limit of $0.25 or better. If filled, this will assure a $0.15 a share profit and I will still own the Jun 114 calls and have the chance to gain an even greater profit if the Dow turns back up before expiration.
DISCLOSURE: At the time of publication, I am short the Jun 113 calls and long the 114 calls on DIA.
Sincerely,
Bill Kraft
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