SELL -1 1/1/-1 CUSTOM TLT 100 (WEEKLYS) AUG5 14/AUG5 14/AUG5 14 117/109/107 CALL/PUT/PUT @.63 LMT

    

1 Comment

  1. cameadow on July 11, 2014 at 12:59 pm

    This is essentially a roll on $TLT. I have a further out-in-time (LEAPS) on a long call to protect against too much of an upside move. Essentially a poor man’s covered call with leaps. I’ve chosen to buy calls out of the money when doing these, since they’re cheaper than deep in the money, so it’s more like a double diagonal. Hope this helps solve the confusion on this options spread trade, as it looks by itself like it’s totally unprotected!



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