[Selling to Close Call Leg of Conoco Phillips (COP) Straddle/Aug 90 Calls (BSJHR)/Day Order/Limit $$5.90]
Dear Member:
Conoco Phillips (COP) appears to be stalled at a resistance without much time left on my August straddle. I own this straddle as a result of COP taking over BR on which I initially placed the straddle. I am placing an order to sell to close the call leg BSJHR (Aug 90) at a limit of $5.90. If filled, this will realize a before commission profit of $0.40 on this leg.
DISCLOSURE: At the time of publication, I have an Aug straddle on COP.
Sincerely,
Bill Kraft
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