May 24, 2013 Trade Alert - Big Bear Portfolio

We are positive net delta:

BTC 2 SPY MAY4 13 165.5 puts (SPY130524P165.5)
STO 2 SPY May5-13 164 puts (SPY130531P164) for a debit of $1.13  (selling a diagonal)

BTC 1 SPY MAY4 13 165.5 put (SPY130524P165.5)
STO 1 SPY May5-13 163.5 put (SPY130531P163.5) for a debit of $.41  (selling a diagonal)

BTC 2 SPY MAY4 13 165.5 calls (SPY130524C165.5) for $.05 (no commission)

STC 2 SPY Jun-13 165 calls (SPY130622C165) for $1.88

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