[Closing Short Leg of Nasdaq Stock Market Inc (NDAQ)]
Dear Member:
With the news that NDAQ is evidently giving up on its hostile takeover of the London Stock Exchange, the stock is dropping like a stone. It is time to close the short leg of my spread by buying to close the Mar 35 puts at $4.10. I'll hang on to the Mar $32.50 puts to see if they can turn the trade profitable on a continuing drop in the stock.
Sincerely,
Bill Kraft
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