[Closing Straddle on Transocean (RIG)]
Dear Member:
Transocean (RIG) has enjoyed a fast move up since I entered my Nov 90 straddle for $14.70. I am now closing this trade by simultaneously selling the Nov 90 calls (RIGKR) and the Nov 90 puts (RIGWR) at a limit of $16.40. If filled, that would represent a gain of $1.70 or 11.6% since entry 8 days ago.
Sincerely,
Bill Kraft
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