[Creating New Calendar Spread on Blackstone Group (BX)]
Dear Member:
Once again, the markets are turning down. Blackstone Group (BX) rose to touch the down trend line and then dipped. It is an appropriate time for me to sell some more calls against my long 2010 $25 call position. I am placing an order to sell to open the Apr 17.50 calls (BXDW) at a limit of 40 cents. If filled, this move will again bring in some income and reduce risk in the long position. I may not get filled unless there is a little intra-day bounce since my limit is 1/2 way between the bid and the ask at the moment.
DISCLOSURE: At the time of publication, I am long the '10 $25 calls on BX.
Sincerely,
Bill Kraft
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