June 3, 2013 Trade Alert - Big Bear Portfolio

We will get a little shorter and increase theta:

BTC 2 SPY JUN1 13 166 calls (SPY130607C166)
STC 2 SPY Jul-13 166 calls (SPY130720C166) for a credit of $1.40  (selling a calendar)

BTO 2 SPY Jul-13 164 calls (SPY130720C164)
STO 2 SPY JUN1 13 164 calls (SPY130607C164) for a debit of $1.70  (buying a calendar)

BTC 2 SPY JUN1 13 164.5 puts (SPY130607P164.5)
STO 2 SPY JUN1 13 162 puts (SPY130607P162) for a debit of $1.18  (buying a vertical)

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