May 16, 2013 Trade Alert - Big Bear Portfolio

In-the-money short options might haunt us at the monthly expiration tomorrow:

BTC 2 SPY May-13 165.5 calls (SPY130518C165.5)
STO 2 SPY May4-13 166.5 calls (SPY130524C166.5) for a debit of $.00  (selling a diagonal)

BTC 2 SPY May-13 162 puts (SPY130518P162) for $.03 (no commission)

STC 2 SPY Jun-13 162 puts (SPY130622P162) for $1.30

BTC 2 SPY May-13 162.5 puts (SPY130518P162.5) for $.03 (no commission)

STO 2 SPY May4-13 162.5 puts (SPY130524P162.5) for $.26

BTO 3 SPY Jun-13 166 puts (SPY130622P166)
STO 3 SPY May-13 166 puts (SPY130518P166) for a debit of $2.28  (buying a calendar)

Be prepared to change these price limits by $.02 or more in order to get an execution.

Happy trading.
 
Terry