[Closing Spread on Sandisk (SNDK)]
Dear Member:
I am placing a limit order to unwind and close the spread trade on Sandisk (SNDK). The order is to buy to close the May 45 calls (SWFEI) and sell to close the May 47.50 calls (SWFEW) simultaneously at a debit limit of 35 cents. If filled, this will close both legs of the spread and I will have enjoyed a profit of 30 cents a share before commissions. That would be a 16.2% return on risk in 6 days.
DISCLOSURE: At the time of publication, I own the above referenced spread on SNDK.
Sincerely,
Bill Kraft
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