[Creating Spread Against BBH LEAPS/Selling to Open Sept 185 Calls ((BBHIQ)/Day Order/Limit $1.30]
Dear Member:
Once again, the Biotech Hldrs (BBH) have been unable to climb above 180. I own some Jan 200 LEAPS calls and would like to create a spread against them by silling to open the Sept 185 calls at a limit of $1.30 on a day order. If filled, this trade will bring in $1.30 a share income and reduce risk in the long term position. I would close this leg if the stock closes above 180.50.
DISCLOSURE: At the time of publication, I own Jan 200 calls on BBH.
Sincerely,
Bill Kraft
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