SCO / Phil – While we wait for the oil dip, should we do something with the SCO spread on the STP? How about buying back the short calls now and keep the long calls until tomorrow… If the dip does not come then roll them to the May weeklies, either the May 23rd's or the 30th's, between the $26.50 and $27.50 strikes. I know you don’t want to roll them to June.
April 21st, 2014 at 1:06 pm
SCO / Phil – While we wait for the oil dip, should we do something with the SCO spread on the STP? How about buying back the short calls now and keep the long calls until tomorrow… If the dip does not come then roll them to the May weeklies, either the May 23rd's or the 30th's, between the $26.50 and $27.50 strikes. I know you don’t want to roll them to June.