[Setting Contingent Stop on SID Puts]
Dear Member:
Companhia Siderugica Nacional SA (SID) has gapped down this morning and my Jun 30 puts (SIDRF) are toying with profitable territory. I am now placing a stop to sell the Jun 30 puts (SIDRF)contingent on the stock price of SID going above $35.96. If the stock returns to that area, it will have begun to fill the gap and it will be time for me to exit.
DISCLOSURE: At the time of publication, I own the referenced puts on SID.
Sincerely,
Bill Kraft
|
