[Creating Spread Against Citigroup (C) LEAPS]
Dear Member:
Citigroup (C) is drifting down which presents the opportunity to sell some calls against my Jan '08 45 calls. I am placing an order to sell to open the Jan '08 50 calls (WRVAJ) at a limit of $3.20 for the day. If filled, this will further reduce risk in the position and bring in some more income.
DISCLOSURE: At the time of publication, I own LEAPS calls on C.
Sincerely,
Bill Kraft
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