[Opening Bearish Credit Spread on Sepracor (SEPR)/Simultaneously Buying Oct 55 Calls (ERUJK) and Selling Oct $52.50 Calls (ERUJX)/Day Order/ $0.65 credit]
Dear Member:
With Sepracor (SEPR) banging against resistance near $49, I am placing an order to open a bearish credit spread by simultaneously buying the Oct 55 calls (ERUJK) and selling the Oct 52.50 calls for a net credit before commission of $0.65. If filled, and if no adjustments are necessary before Oct expiration, this would represent a 35.14% return for a month before commission.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
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