[Closing Call Position in Sirius Satellite Radio (SIRI)]
Dear Member:
Back in 2006, I bought the $2.50 LEAPS calls on Sirius Satellite Radio (SIRI) and the position never took off. Over the months, I sold calls against the position to reduce the overall risk and bring in income in the meantime. Sirius (SIRI)is down again today so I am going to place an order to sell to close the Jan 2.50 calls at a limit of $0.20. If filled, the final results including the sale and buy back of calls over time will be set out in the Trade Table.
DISCLOSURE: At the time of publication, I am long the Jan 2.50 calls on SIRI.
Sincerely,
Bill Kraft
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