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August 3rd, 2011 at 1:46 pm
Submitted on 2011/08/01 at 4:34 pm
PCLN/Sank – I’d sell 4 weekly $570 calls for $11 against 3 Sept $605s at $11 for net $1,100 credit on the assumption they don’t go all the way up to $581 and, even if they do, you should be able to roll to the Aug $585s at least and then 5 more weekly rolls before you hit trouble and you can DD on the long calls and do a 1.5X roll if they gain more than 10% but I super doubt it so let’s do one set in the $25KP.