[Creating New Spread against Citigroup (C) calls]
Dear Member:
With the collapsing status of Citigroup (C) stock, I am going to create a new bearish spread against my existing long Jan 45 calls by selling to open the Jan 40 calls (CAH) at a limit of $1.58. If filled, this will bring in additional income and create a 40/45 bear call spread.
DISCLOSURE: At the time of publciation, I am long the Jan 45 calls on C.
Sincerely,
Bill Kraft
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