October 19, 2016  Trade Alert  -   JNJ Jamboree  Portfolio

If you were assigned stock because of our short 21Oct16 120 puts, sell the stock and sell the appropriate number of 28Oct16 115 puts.  Otherwise, make these trades which will get rid of all our well in-the-money short puts:

 

BTC 1 JNJ 21Oct16 120 put (JNJ161021P120)
STC 1 JNJ 21Apr17 120 put (JNJ170421P120) for a credit of $3.30  (selling a calendar)

BTC 2 JNJ 21Oct16 120 puts (JNJ161021P120)
STO 2 JNJ 28Oct16 115 puts (JNJ161028P120) for a debit of $3.04  (selling a diagonal)

BTO 2 JNJ 20Jan17 115 puts (JNJ170120P115)
STC 2 JNJ 20Jan17 120 puts (JNJ170120P120) for a credit of $4.07  (selling a vertical)

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

 
Happy trading.

 

Terry