AKAM – Akamai Technologies (Last:25.38)

Bid 0.05 for a February 27 call to neutralize the risk of the February 29 call that we shorted a while back for 0.60.  We also hold a round lot of stock for 11.01 and a March 24 put acquired for 0.65. No further action is required. ______ UPDATEWe bought the call  for 0.05, the low of the day, when it traded at that price on the opening.  Imputing the 0.55-cent gain to the cost of the put we still hold lowers its cost basis to 0.10. We also now have a vertical call spread, Feb 27- Feb 29,  — that amounts to a free lottery ticket with a $200 prize if Akamai should soar between now and February 19. _______ FURTHER UPDATE:  The spread went out worthless, and so we now hold a round lot of stock with an imputed cost basis of 11.11.