[Closing Spread on The Blackstone Group (BX)]
Dear Member:
The spread on The Blackstone Group (BX) has worked out pretty well since I originally bought the LEAPS calls about 5 weeks ago. I am now placing an order to close my positions by buying to close the APR 17.50 calls (BXDW) and selling to close the Jan '10 25 calls (KJLAE) for a net credit (before commission) of $2.20. If filled, this will result in an overall return before commission of more than 24% in about 5 weeks.
DISCLOSURE: At the time of publication, I hold the positions referenced above.
Sincerely,
Bill Kraft
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