[Closing Short Leg on Biotech Hldrs (BBH)/Buying to Close Aug 185 Calls (BBHHQ)/Day Order/Limit $0.60]
Dear Member:
The Biotech Hldrs (BBH) have bounced so I am placing an order to buy to close the short leg of my diagonalized calendar spread. I sold the Aug 185 calls (BBHHQ) for $1.05 the other day and now I am placing an order to buy to close that leg for a limit of $0.60. If filled, that will be a profit of $0.45 a share.
DISCLOSURE: At the time of publication, I am short the Aug 185 calls and long the Jan 200 calls on BBH.
Sincerely,
Bill Kraft
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