[Closing Short Leg of Cognizant (CTSH) Spread]
Dear Member:
Cognizant Tech Sol (CTSH)reached a high for the year yesterday and has backed off along with the market today. It looks like a good time to take profit in the short leg of my diagonalized calendar spread. I am placing an order to buy to close the Oct 30 puts (UPUVF) at a limit of 1.40 for the day. If filled, that will result in a 45 cent a share gain on that leg and I will still be long the Jan 35 puts.
DISCLOSURE: At the time of publication, I am short the Oct 30 puts and long the Jan 35 puts on CTSH.
Sincerely,
Bill Kraft
|
