[Creating Spread Agains Citigroup (C) LEAPS]
Dear Member:
Citigroup (C) has turned down this morning and that is a good time for me to sell some calls against my long Jan 2010 $20 call position. I am placing an order to sell to open the Jan 2010 $30 calls (WRVAF) at a limit of $2.70. If filled, that will reduce my overall risk, bring in some income and create a 20/30 bullish call spread.
DISCLOSURE: At the time of publication, I own the Jan 2010 20 calls.
Sincerely,
Bill Kraft
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