May 10, 2013 Trade Alert - Terry’s Trades Portfolio

Our policy is to take off a straddle when there is only a week of remaining life and take up to a 50% loss (it won’t be quite that bad).  Since we have owned this straddle the stock has not deviated more than a dollar from the 33 strike, a highly unusual event for Oracle.  We will buy a June strangle on ORCL in our Straddle Central portfolio:

STC 10 ORCL May-13 33 calls (ORCL130518C33)
STC 10 ORCL May-13 33 puts (ORCL130518P33) for a credit of $1.08  (selling a straddle)

Be prepared to change this price limit by $.02 or more in order to get an execution.
 
Happy trading.
 
Terry