[Creating Spread on Biotech Hldrs (BBH)/Sell to Open Aug 185 Calls (BBHHQ)/Day Order/Limit $1.00]
Dear Member:
The Biotech Hldrs (BBH) have touched a resistance and turned back down. I already own some long term calls and I am now placing an order to sell the Aug 185 calls (BBHHQ) at a limit of $1.00. If filled, this will bring in some cash and further reduce the risk in my longer term position.
I apologize for the earlier alert regarding GDI. It was meant only for Trend Trader subscribers. I bought shares of GDI yesterday in Trend Trader and the stock gapped up almost $2.50 on the open and I was hurrying to send out an alert regarding the placement of my stop so I mistakenly sent it to you too.
DISCLOSURE: At the time of publication, I own Jan 200 calls on BBH.
Sincerely,
Bill Kraft
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