October 18, 2013 Trade Alert - Big Bear Portfolio

After patiently waiting for some “sell on the news” activity to bring down the price of SPY only to see that it never happened, we need to get set up for next month:

BTC 2 SPY Oct-13 168 puts (SPY131019P168) for $.01 (no commission)

BTC 1 SPY Oct-13 164 put (SPY131019P164) for $.01 (no commission)

STC 1 SPY Nov-13 168 put (SPY131116P168) for $.64

STC 1 SPY Nov-13 169 put (SPY131116P169) for $.77

STC 1 SPY Nov-13 171 put (SPY131116P171) for $1.12

BTO 1 SPY Dec-13 174 put (SPY131221P174)
STO 1 SPY Nov-13 171 put (SPY131116P171) for a debit of $2.62  (buying a diagonal)   

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