June 9, 2015  Trade Alert -  Pattern Play  Portfolio – LIMIT ORDERS

The stock has fallen considerably since we placed our trades.  We should roll down one spread to a lower strike:

 

BTC 1 SVXY Jun-15 90 call (SVXY150619C90)
STC 1 SVXY Jul4-15 90 call (SVXY150724C90) for a credit limit of $3.10  (selling a calendar)

BTO 1 SVXY Jul4-15 88 call (SVXY150724C88)
STO 1 SVXY Jun-15 88 call (SVXY150619C88) for a debit limit of $3.35  (buying a calendar)

If these do not execute in 3 minutes, change the limits by $.03 and try again for 3 minutes, and repeat this process until an execution is successful. 

Happy trading.

 
Terry