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January 26th, 2011 at 9:08 am
With 22 days left to expiration, we can collect some premium on the upside If the market rallies substantially today. We expect to set up a call vertical spread to compliment the put vertical that we already have on. If the RUT goes up by 14-20 points, we will place a call vertical spread with a delta .08. For risk management purposes, we will only put up half the number of contracts that we have on the put side.
So please stay tuned and watch for our trade alert in case we have a big up swing.