Buying Swing: covering short LVS 55 nov calls at .14-16 area
Posted: Mon Nov 15, 2010 12:48 pm
Buying Swing: covering short LVS 55 nov calls at .14-16 area and LVS Nov 52.50 calls around .45 Am here looking to lock in profits on shorts on 55 nov calls 2X OVERSIZED from 1.20 here at .15 and LVS 52.50 calls from .80 here at .45 area not yet cleared. LVS here shows more strength than expected, will continue to hold the puts and look for new call short opportunities later and overall the strategy continues to be profitable despite puts premium decay due to the shorts on calls.