[Closing Short Leg of Q's Spread]
Dear Member:
The Q's (Nasdaq 100 Tracking; Symbol QQQQ) have continued to rise. I can now take almost all the profit out of my short leg of the Jul 46/Sept 44 put spread. I am placing an order to buy to close the Jul 46 puts (QQQST) at a limit of 7 cents for the day. If filled, the short leg will be closed and will have made a gain of $0.44 a share before commission. I will still hold the Sept 44 puts.
DISCLOSURE: At the time of publication, I hold the referenced 46 Jul/44 Sept put spread.
Sincerely,
Bill Kraft
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