[Closing Position in Qualcomm (QCOM)]
Dear Member:
Qualcomm (QCOM) has turned a nice little profit in a relatively short time. With the weekend coming and QCOM showing a little sign that it may dip at the upcoming resistance I am going to close my position. I am placing an order to sell to close the Jan'09 $30 calls at a limit of $13.40. If filled, that will be an 80 cent a share profit or a before commission return of 6.3% in just 8 days.
DISCLOSURE: At the time of publication, I own the referenced LEAPS calls on QCOM.
Sincerely,
Bill Kraft
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