[Closing Spread on Micron (MU)/Simultaneously Buying to Close the Jan '08 17.50 Calls (WGYAW) and Selling to Close the Jan '08 10 Calls (WGYAB)/GTC Order/Credit $5.00]
Dear Member:
The Micron (MU) spread has some profit and the stock seems to be getting a little stagnant after a nice move up. I'm going to try to close the trade now if I can get the $5.00 credit I'm seeking. I'm placing an order to close the spread by simultaneously buying to close the Jan '08 17.50 calls (WGYAW)and selling to close the Jan '08 10 calls (WGYAB) for a credit limit of $5.00.
DISCLOSURE: At the time of publication, I am long the Jan '08 10 calls and short the Jan '08 17.50 calls on MU.
Sincerely,
Bill Kraft
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