[Creating Spread against Puts on Cognizant Tech Sol (CTSH)]
Dear Member:
Cognizant Tech Sol (CTSH) has bobbed up today giving me the chance again to sell some puts against my existing Jan 35 puts. I am placing an order to sell to open the Oct 30 puts (UPUVF) at a limit of $1.50. If filled, this will bring in some income and reduce the risk in the long position. Effectively, the position will be a diagonalized calendar debit spread.
DISCLOSURE: At the time of publication, I am long the Jan 35 puts on CTSH.
Sincerely,
Bill Kraft
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