[Closing Short Leg of Spread on Blackstone Group (BX)]
Dear Member:
The Blackstone Group (BX) has bounced with the market this morning. On that bounce, I am placing an order to buy to close the Mar 17.50 calls (BXCW) at a limit of 20 cents. As you may recall, I originally sold them for 40 cents so, if filled, I will be able to keep half that original credit thereby enjoying the income and reducing the risk in my long 2010 25 calls.
DISCLOSURE: At the time of publication, I am short the Mar 17.50 calls and long the Jan 2010 25 calls on BX.
Sincerely,
Bill Kraft
|
