October 19, 2016  Trade Alert #2 -   JNJ Jamboree  Portfolio

We should get rid of our remaining in-the-money short puts to avoid an assignment.  We need to roll down to some lower strikes as well:

 

BTC 1 JNJ 21Oct16 118 put (JNJ161021P118)
STC 1 JNJ 20Jan17 120 put (JNJ170120P120) for a credit of $3.50  (selling a diagonal)

BTC 2 JNJ 21Oct16 118 puts (JNJ161021P118)
STO 2 JNJ 04Nov16 116 puts (JNJ161104P116) for a debit of $1.41  (selling a diagonal)

BTO 2 JNJ 20Jan17 115 calls (JNJ170120C115)
STC 2 JNJ 20Jan17 120 calls (JNJ170120C120) for a debit of $1.89  (buying a vertical)

BTC 1 JNJ 21Oct16 117 call (JNJ161021C117) for $.02 (no commission)

BTC 1 JNJ 21Oct16 118 call (JNJ161021C118) for $.02 (no commission)

STO 2 JNJ 28Oct16 115 calls (JNJ161028C115) for $.78

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

 
Happy trading.

 

Terry