[Entering New Leg of Spread on Citigroup (C)]
Dear Member:
Citigroup (C) has run up and turned back over. This move gives me a chance to sell the Jan 47.50 calls (CAW) against my already existing Jan 45 call position. I am placing an order to sell to open the Jan 47.50 calls at a limit of $3.10. If filled, this will bring in some income and assure that I will have made an overall profit if I am called out of the $47.50s or if the stock stays above $47.50 at expiration.
DISCLOSURE: At the time of publication, I am long the Jan 45 calls on C.
Sincerely,
Bill Kraft
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