[Opening Position in Qualcomm (QCOM) LEAPS Calls]
Dear Member:
I have traded a number of positions in Qualcomm (QCOM) over the past 8 or 9 years. The stock now appears to have established a trend up beginning around the middle of August. I am placing an order to buy the Jan '09 30 calls (VLMAF) at a limit of $12.80. Currently these calls are a little over $9 in the money and have a delta of about .82.
DISCLOSURE: At the time of publication, I have no position in the referenced LEAPS or the underlying stock.
Sincerely,
Bill Kraft
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