Subject: November 19, 2015 Trade Alert - JNJ Jamboree Portfolio
November 19, 2015 Trade Alert - JNJ Jamboree Portfolio
The company pays a
$.75 dividend tomorrow, and there is less premium than that in the 101 and 102
short calls, so we need to trade out of them to avoid an exercise:
BTC 2 JNJ Nov-15 102 calls (JNJ151120C102)
STO 2 JNJ NOV4 15 103 calls (JNJ151127C103) for a credit of
$.03 (selling a diagonal)
BTC 3 JNJ NOV4 15 101 calls (JNJ151127C101)
STO 3 JNJ Dec2-15 103 calls (JNJ151211C103) for a debit of $.74 (selling a diagonal)
BTC 2 JNJ NOV4 15 102 calls (JNJ151127C102)
STO 2 JNJ Dec-15 105 calls (JNJ151219C105) for a debit of $.25 (selling a diagonal)
BTC 2 JNJ DEC1 15 101 calls (JNJ151204C101)
STO 2 JNJ Dec2-15 104 calls (JNJ151211C104) for a debit of $1.16 (selling a diagonal)
BTC 1 JNJ DEC1 15 102 call (JNJ151204C102)
STO 1 JNJ Dec2-15 104 call (JNJ151211C104) for a debit of $.55 (selling a diagonal)
BTC 1 JNJ DEC1 15 102 call (JNJ151204C102)
STC 1 JNJ Apr-16 100 call (JNJ160415C100) for a credit of $4.13 (selling a diagonal)
BTO 3 JNJ Apr-16 105 calls (JNJ160415C105)
STC 3 JNJ Apr-16 100 calls (JNJ160415C100) for a credit of $2.48 (selling a vertical)
Be prepared to change these price limits by $.05 or more in order to get an execution.
Happy trading.
Terry
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