April 16, 2013 Trade Alert - Big Bear Portfolio

We have become positive net delta:

BTC 3 SPY Apr-13 158.5 calls (SPY130420C158.5)
STO 3 SPY Apr-13 157 calls (SPY130420C157) for a credit of $.42  (selling a vertical)

BTC 2 SPY Apr-13 158 puts (SPY130420P158)
STC 2 SPY May-13 160 puts (SPY130518P160) for a credit of $2.44  (selling a diagonal)

BTC 2 SPY Apr-13 157.5 puts (SPY130420P157.5)
STO 2 SPY Apr-13 156 puts (SPY130420P156) for a debit of $.78  (buying a vertical)

BTC 2 SPY Apr-13 157 puts (SPY130420P157)
STO 2 SPY Apr-13 155.5 puts (SPY130420P155.5) for a debit of $.65  (buying a vertical)

BTO 3 SPY May-13 155 puts (SPY130518P155)
STO 3 SPY Apr-13 155 puts (SPY130420P155) for a debit of $1.35  (buying a calendar)

Be prepared to change these price limits by $.05 or more in order to get an execution.
 
Happy trading.
 
Terry