December 21, 2016  Terry’s Tips Trade Alert -  Earnings Eagle  Portfolio – limit sales 

 

We will close out the highest-strike spreads to get more neutral net delta: 

 

BTC 4 FDX 23Dec16 202.5 calls (FDX161223C202.5)  

STC 4 FDX 27Jan17 202.5 calls (FDX170127C202.5) for a credit limit of $1.60 (selling a calendar) 

 

BTC 4 FDX 23Dec16 205 calls (FDX161223C205) for a limit of $.05 (no commission) 

 

If that executes: 

 

STC 4 FDX 27Jan17 205 calls (FDX170127C205) for a limit of $1.22 

 

Happy trading.

 

Terry