November 6, 2013 Trade Alert - Rising Tide Portfolio

Costco has made a nice run today.  There is hardly any time premium remaining in the Nov-13 120 short calls so we should roll to higher strikes and add a new spread on:

BTC 2 COST Nov-13 120 calls (COST131116C120)
STC 2 COST Apr-14 115 calls (COST140419C115) for a credit of $6.70  (selling a diagonal)

BTC 2 COST Nov-13 120 calls (COST131116C120)
STO 2 COST Nov5-13 124 calls (COST131129C124) for a debit of $2.60  (selling a diagonal)

STO 3 COST Nov4-13 126 calls (COST131122C126) for $.66

BTO 1 COST Jan-15 130 call (COST150117C130)
STO 1 COST Nov-13 125 call (COST131116C125) for a debit of $6.05  (buying a diagonal)

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