April 18, 2013 Trade Alert - Big Bear Portfolio

If we roll over these in-the-money lower-strike short puts for next week, we will be able to sell the long puts and still remain comfortably negative net delta:

BTC 5 SPY Apr-13 156 puts (SPY130420P156)
STO 5 SPY Apr4-13 154.5 puts (SPY130426P154.5) for a debit of $.04  (selling a diagonal)

BTC 4 SPY Apr-13 155.5 puts (SPY130420P155.5)
STO 4 SPY Apr4-13 154 puts (SPY130426P154) for a credit of $.12  (selling a diagonal)

STC 2 SPY Apr-13 154 puts (SPY130420P154) for $.46

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