List/Options – Well I like all of them but not sure at what price.  PG is having margin issues and is not cheap at $78.25 since it's about 20 times their $4 earnings with little growth.  I know that seems "cheap" compared to other idiotic prices but I prefer to play assuming reality sets in before Global Warming kills us all.  TXN requires a lot of study as chip cos go in and out of fashion and VLO is not even a tiny bit cheap and I'd short them if I didn't like them so much – play OIH to catch up.

GIS also nice and boring and well-priced at $45, those should go in the LTP in the very least selling puts.  Let's make this play official for the LTP:

• Sell 10 GIS 2020 $45 puts for $5.15 ($5,150)
• Buy 20 GIS 2020 $40 calls for $7.50 ($15,000)
• Sell 20 GIS 2020 $52.50 calls for $2.20 ($4,400) 

That's net $5,850 on the $25,000 spread that's $10,000 in the money to start.  Profit potential is $19,150 (327%) and, of course, once we're at $50 we can sell some calls like 5 short July $50s for $1+ and, if we collect just $500 every quarter, that's another $3,500 we can bank on the trade.