BSC

Posted by Jack Haddad on February 19, 2008 at 1:04 pm

Bought 3 blocks at 79.88, and wrote 300 March strike 80 calls at 5.2/contract.   BSC’s bid for Macquarie Private Capital Group is the recent weakenss in BSC shares.  The March 80 strike offers me a 5 point downside protection.  If the shares go below 75, I’m still willing to hold them and write another round of April calls. 

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