August 2, 2016  Trade Alert  -   JNJ Jamboree  Portfolio

We will sell against our uncovered long calls and use the cash to add on a new spread, both moves picking up some time premium to collect:

 

STO 2 JNJ 12Aug16 124 calls (JNJ160812C124) for $1.34

BTO 2 JNJ 20Jan17 125 calls (JNJ170120C125)
STO 2 JNJ 12Aug16 125 calls (JNJ160812C125) for a debit of $3.50  (buying a calendar)

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

 
Happy trading.

 

Terry