November 3, 2016  Trade Alert  -   JNJ Jamboree  Portfolio

These trades will increase theta, make us a little more neutral net delta, eliminate the maintenance requirement, and set the stage for being able to sell new short-term calls at strikes below $120:

 

BTO 1 JNJ 20Jan17 115 call (JNJ170120C115)
STC 1 JNJ 20Jan17 120 call (JNJ170120C120) for a debit of $1.98  (buying a vertical)

STO 1 JNJ 11Nov16 116 call (JNJ161111C116) for $.98

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

 
Happy trading.

 

Terry