[Cancelling Contingent Order and Placing Order to Close Puts on SID]
Dear Member:
Companhia Siderugica Nacional SA (SID) has continued to drop through the day and is now in profitable territory. I am cancelling my contingent order and placing an order to sell to close my Jun 30 puts (SIDRF) at a limit of $2. If filled, that will represent a 14%+ gain before commission in about 3 weeks.
DISCLOSURE: At the time of publication, I own the referenced puts on SID.
Sincerely,
Bill Kraft
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