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Portfolio #3: ALERT We are placing a Good until canceled BUY STOP order on the CLF JULY 15 call to close.

We are placing a BUY STOP on the CLF JULY 15 put at a $0.71 DEBIT

If the BUY STOP PRICE is triggered we will be stopped out of the CLF JULY 15 call and then sell our CLF JULY 17 Call at the Market.

However, if the CLF JULY 15 Call BUY STOP PRICE is not triggered we will continue to hold the position.