[Selling to Close Calls on Qualcomm (QCOM)/Selling Jan '08 30 Calls (WLUAF)/Day Order/Limit $10.30]
Dear Member:
After I bought the LEAPS calls on Qualcomm (QCOM) yesterday for $9.30, the stock moved up nicely. Today, it gapped up and is now sliding back a little, perhaps with profit taking. I am going to try to take some profit by selling to close the Jan '08 30 calls (WLUAF) at a limit of $10.30. If filled, that will result in a $1 a share gain or a 10.7% return before commission in less than a full day!
DISCLOSURE: At the time of publication, I own LEAPS calls on QCOM.
Sincerely,
Bill Kraft
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