October 21, 2015  Trade Alert -  Rising Tide  Portfolio

If the stock goes up by a dollar we will be negative net delta.  We will get rid of our in-the-money short calls.  The first trade is necessary to generate some cash:

 

BTO 1 COST Apr-16 155 call (COST160415C155)
STC 1 COST Apr-16 150 call (COST160415C150) for a credit of $2.85  (selling a vertical)

BTC 2 COST OCT5 15 152.5 calls (COST151030C152.5
STO 2 COST Nov2-15 155 calls (COST151113C155) for a debit of $.75  (selling a diagonal)

BTC 1 COST NOV1 15 152.5 call (COST151106C152.5)
STO 1 COST Nov2-15 155 call (COST151113C155) for a debit of $1.20 (selling a diagonal)

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

 
Happy trading.

Terry