[Closing Straddle On Business Objects (BOBJ)]
Dear Member:
I am placing an order to sell to close my Apr 60 straddle on BOBJ at a limit of $3.60. The order is simultaneously to sell the Apr 60 calls (BBQDL) and the Apr 60 puts (BBQPL) at a limit of $3.60. There has been a little bump in volatility so I am going to exit. BOBJ is being taken over by SAP and I was hoping for some questioning news about this somewhat odd deal to spike volatility, but I think there may be as much as there is going to be so I'll try to take the small profit.
DISCLOSURE; At the time of publication, I own the referenced straddle.
Sincerely,
Bill Kraft
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