[Closing Short Leg of Spread on SPY]
Dear Member:
As in the case of the last alert on C, SPY is also bouncing a little this morning so I have the chance to take some profit on the short leg of my spread. I am placing an order to buy to close the Jun 145 call (SFBFO) at a limit of $0.35. Since I initially sold these options for 64 cents, if filled, I will have captured a 29 cent a share profit before commission in 6 days on this leg.
DISCLOSURE: At the time of publication, I hold the referenced spread on SPY.
Sincerely,
Bill Kraft
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