September 17, 2013 Trade Alert - Big Bear Portfolio

We need to get longer and also buy back the in-the-money short call to avoid assignment due to the Friday dividend:

BTC 1 SPY Sep-13 169 call (SPY130921C169)
STC 1 SPY Oct-13 169 call (SPY131019C169) for a credit of $1.10  (selling a calendar)

BTC 1 SPY Sep-13 163 put (SPY130921P163)
STC 1 SPY Oct-13 163 put (SPY131019P163) for a credit of $.76  (selling a calendar)

BTC 1 SPY Sep-13 164 put (SPY130921P164)
STC 1 SPY Oct-13 164 put (SPY131019P164) for a credit of $.88  (selling a calendar)

BTO 1 SPY Nov-13 170 put (SPY131116P170)
STO 1 SPY Sep-13 170 put (SPY130921P170) for a debit of $2.65  (buying a calendar)

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