[Creating Spread Against SPY Position]
Dear Member:
The S&P500 has broken down through a trend line. As you know, I am long the Dec 140 calls on SPY and in order to further reduce risk and bring in some cash, I am placing an order to sell to open the Mar 140 calls (SFBCJ) at a limit of $0.86.
DISCLOSURE: At the time of publication, I am long the Dec 140 calls.
Sincerely,
Bill Kraft
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