[Adding Position in SP-500 ETF (SPY)]
Dear Member:
Yesterday, the SP-500 ETF (SPY) broke above a resistance level on higher volume. It has remained above that resistance today. As you know, I already have a position in the Dec '08 135 calls (CYYLE) and I am now placing an order to buy to open the Dec '08 140 calls (CYYLJ) at a limit of $15.30 for the day.
DISCLOSURE: At the time of publication, I own Dec '08 135 LEAPS calls.
Sincerely,
Bill Kraft
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