[Closing Short Leg of Spread on SPY]
Dear Member:
For the moment, at least, the S&P 500 has turned up so it looks like a good time to take profit on the short leg of my calendar spread on SPY. I am placing an order to buy to close the Mar 140 calls (SFBCJ) at a limit of $0.40. I initially sold them for 82 cents so this will yield a before commission profit of 42 cents per share on this leg.
DISCLOSURE: At the time of publication, I am long the Dec 140 calls and short the Mar 140 calls on SPY.
Sincerely,
Bill Kraft
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