April 17, 2013 Trade Alert #3 - Big Bear Portfolio

These trades will increase theta and make us more neutral net delta:

BTC 3 SPY Apr-13 157 calls (SPY130420C157)
STC 3 SPY May-13 157 calls (SPY130518C157) for a credit of $1.40  (selling a calendar)

BTC 1 SPY Apr-13 156.5 put (SPY130420P156.5)
STO 1 SPY Apr-13 155 put (SPY130420P155) for a debit of $.80  (buying a vertical)

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