[Closing BOBJ Straddle]
Dear Member:
I no longer see a reason to expect any pop in implied volatility in Business Objects (BOBJ) so I am closing the Apr 60 straddle by selling the Apr 60 calls (BBQDL) and the Apr 60 puts (BBQPL) at a limit of $3. If the order is filled, I will have sustained a 36 cent per share loss.
I expect to send out a trade on the Russel 2000 index in the next 20 minutes or so.
Sincerely,
Bill Kraft
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