Today’s letter will be desperately brief. If questions arise, please contact us via the site OR hit the reply button on this email.
We’ll do our utmost to respond in a timely fashion, but apologize aforehand if local pressures delay us.
- Our PKG trade: Leave it be; we’re in-the-money and pre-market numbers are negative.
- ADBE: Leave it be—should expire worthless. No gain, no loss.
- META: On track for a loss on the CALL spread. ACTION: Set the February 16th 310 synthetic PUT for a credit of $7.85 (35.35/27.50). That will put us in a credit position of $2.75.
- AMGN: Buy back the short CALL and set the April 19th 250 synthetic short for a credit of $32.95 (40.05/7.10). That will put is in a credit position of $1.15.
- RRC: Buy back the short CALL and set the March 15th 24 synthetic short for a credit of $11.00 (11.60/0.60). That will add $0.10 to our current debit, bringing it to $0.46.
- IAU/WPM: Leave it be. IAU will expire worthless and we’ll take a small loss of $0.20.
- PCG: We’re facing a $1.00 loss on our short CALL. ACTION: buy it back and reset the January 19th 15 synthetic short for a credit of $1.05 (1.52/0.47). That reduces our current debit to just $0.02.
- UNG: Buy back the three short PUTs and sell three (3) March 15th 9 PUTs for $2.55 each. That will expand our credit to $3.85.
- XOM: Buy back the two short CALLs and resell two (2) March 15th 105 CALLs for $12.85 each. That will reduce our current credit to $2.67.
- POST: Leave it be. We’re OTM at present, but just marginally. With futures pointing lower, we may face a small loss. We’re ready to risk it.
.השם מלך, השם מלך, השם ימלוך לעולם ועד
Alan B. Harvard