May 3, 2016  Trade Alert  -   JNJ Jamboree  Portfolio

Gamma is uncomfortably high and the stock is looking stronger than the overall market:

 

BTO 2 JNJ 15Jul16 115 calls (JNJ160715C115)
STC 2 JNJ 15Jul16 110 calls (JNJ160715C110) for a credit of $2.64  (selling a vertical)

BTC 3 JNJ 06May16 111 calls (JNJ160506C111)
STO 3 JNJ 20May16 114 calls (JNJ160520C114) for a debit of $1.37  (selling a diagonal)

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

 
Happy trading.

 

Terry