GOIH Capital Markets exits Yahoo-Microsoft spread trade.....
We had shorted MSFT at $29.15 for 200,000 shares and long Yahoo for 400,000 @ $24.20.
MSFT covered at $28.56
YHOO exited @ $23.88
Net: $0.59 MSFT per share x 200,000= 118,000 profit
Net YHOO $0.32 per share x 400,000 = 128,000 loss
Net Position: $10,000 loss