March 15, 2016  Trade Alert -  Foxy Facebook  Portfolio

Gamma is uncomfortably high (if the stock goes up a dollar, we will be negative net delta).  This small tweak will help:

 

BTC 1 FB Mar-16 109 call (FB160318C109)
STO 1 FB Mar4-16 111 call (FB0325C111) for a debit of $.53  (selling a diagonal)

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

 
Happy trading.

 

Terry