December 12, 2016  Trade Alert  -  Honey Badger (JNJ Jamboree)  Portfolio

We have become negative net delta:

 

BTC 1 JNJ 16Dec16 112 call (JNJ161216C112)
STO 1 JNJ 16Dec16 114 call (JNJ161216C114) for a debit of $1.44  (buying a vertical)

BTC 1 JNJ 16Dec16 112 put (JNJ161216P112)
STC 1 JNJ 20Jan17 115 put (JNJ170120P115) for a credit of $2.28  (selling a diagonal)

BTC 1 JNJ 16Dec16 112 put (JNJ161216P112)
STC 1 JNJ 20Jan17 110 put (JNJ170120P110) for a credit of $.58  (selling a diagonal)

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

 
Happy trading.

 

Terry