[Selling Calls to Create Spread on SPY/Selling to Open Aug 128 Calls (SPYHX)/Day Order/Limit $1.65]
Dear Member:
As SPY remains in a downtrend, I am placing an order to create a diagonalized calendar spread to bring in some income and reduce risk in my Dec '07 120 calls. I am placing an order to sell the Aug 128 calls at a limit of $1.65.
Disclosure: At the time of publication, I own Dec '07 120 calls on SPY.
Sincerely,
Bill Kraft
|
