[Closing Position in Bea Systems (BEAS)]
Dear Member:
Bea Systems (BEAS) gapped down unexpectedly this morning and has stayed well below my 10 day moving average exit. I have a couple of choices: I could sell some calls against my Jan '09 12.50 call (VZPAV) position to reduce risk and bring in some income as I have done with other plays, or I can just take my lumps and sell my calls. I am placing an order to sell to close the Jan '09 12.50 calls (VZPAV)at the market. The Trade Table will reflect the ultimate results of the trade.
DISCLOSURE: At the time of publication, I own the Jan '09 12.50 calls on BEAS.
Sincerely,
Bill Kraft
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