[Closing Spread on Sepracor(SEPR)/Simultaneously Buying to Close Oct 52.50 Calls (ERUJX) and Selling to Close Oct 55 Calls (ERUJK)/Day Order/Limit Debit $0.40]
Dear Member:
With just a few days until expiration, the spread on Sepracor (SEPR) is profitable and, in light of the relatively high volatility in the stock, I am placing an order to close my positions. I am placing an order to close the spread by simultaneously buying to close the Oct 52.50 calls (ERUJX) and selling to close the Oct 55 calls (ERUJK) on a day order at a limit of $0.40. I think I may be able to get a slightly better fill, but it is time to go and take my profit.
DISCLOSURE: At the time of publication, I have a 52.50/55 bearish call spread on SEPR.
Sincerely,
Bill Kraft
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