Comment by phil

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phil
April 29th, 2015 at 10:05 am

LL/Batman – The spread is still in the money and you can sell the 2017 $25 puts for $6.70 for a net $18.30 entry, which is still 33% below the current price ($27.50).  There may be downgrades but that's a pretty good price



OK, so let's make some trades:

In the $25KP, we have 5 LL Aug $34 calls, now $1.45.  Let's roll those to the $28 call at $3.45 (+$2) and double down there.  

In the STP let's sell 10 LL June $28 puts for $3.

In the LTP we have 10 LL 2017 $30s, now $7 and we can roll them down to the $25s, now $9.15 so let's do that and also we have 5 short Jan $40 puts, now $14 and certainly we want to roll those to 10 of the $25 puts at $6.70.  Finally, we sold 5 2017 $55 calls for $6.25 – let's offer $1 and see if we can close them out to ready us to sell more calls on a bouce (if it ever does).  



The TWTR Jan $35 puts we sold for $3 yesterday in the STP are still $3.15 but, in the LTP, let's sell 10 2017 $33 puts for $4.30 for a net $28.70 entry (28% off the current price and $4,300 in our pockets).