Comment by phil

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phil
December 13th, 2012 at 11:57 am

Boehner seems to have done his job but we're holding up pretty well considering.  

BBY/Burr – Oh you have to have confidence in the buy-out but not really "safer" way to play as they will drop fast and hard if no buy out.  You can always switch to WMT – that's probably safer.  

Europe closed with not too much damage.  

Let's take $1.70 and run for our Jan $29 QID calls in the $25KP.  That gives us the net $1+ spread we were looking for and now, if we want to be more bearish – we can still sell some QQQ calls as we have those covered.  

In $25KPA, we can roll the AAPL April $550 calls down to the $530 calls for $8.75 – may as well do that as we can sell Dec $560s for $8 (not that we want to, but we can) to fully pay for that roll.  

In AAPL Money, keep in mind that we can sell the $550 calls for $96.50 and use that money to roll the $500s down to the $340 calls at $210 (+$92) and then we're in the $210 spread for net $110 (counting the $43 credit from the $400 puts) and we still have 2 years to sell calls to whittle that down so that's why I'm not worried about those.